Cummins India Limited : Results for Q2 2013-14

CONTACT: Gitanjali Sabikhi

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November 7, 2013 For Immediate Release Cummins India Limited Results for Q2 2013-14 Pune, INDIA: The Board of Directors of Cummins India Limited, in their meeting held today, took on record the unaudited financial results for the quarter and the half year ended September 30, 2013.

Net sales of the Company for the quarter ended September 30, 2013 at Rs. 913.8 crores declined 14% as compared to Rs.1068.3 crores recorded in the same period last year, and declined 11% compared to Rs. 1028.7 crores recorded in the preceding quarter. Net sales for the half year ended September 30, 2013 declined 16% from Rs. 2309.7 crores to Rs.
1942.5 crores over the same period last year.
Net profit before tax in the second quarter declined 12 percent to Rs.194.4 crores compared to Rs. 220.7 crores in the same period last year and 15 percent compared to Rs. 229.4 crores recorded in the preceding quarter. Net profit before tax for the half year ended September 30, 2013 declined 11.5 percent to Rs. 423.9 crores as compared to Rs.478.9 crores in the same period last year.
Anant J. Talaulicar, Chairman & Managing Director, Cummins India Limited said, "Demand conditions worsened across all our market segments as the Indian economy has continued to lose steam and cost of money continues to be high.
I am happy to relay that despite a significant leverage loss, the Company continued to maintain margins, owing largely to its increased focus on cost efficiencies."
He further added, "While economic uncertainties are impacting our growth in the short to medium term, the Company remains committed to improve operational performance positioning itself to resume growth upon revival of the markets."

About Cummins India Limited

Cummins India Limited, headquartered in Pune since 1962, is the country's leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.

About Cummins in India

Cummins in India, a power leader, is a group of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, air handling, filtration, emission solutions and electrical power generation systems. Its technology and pioneering initiatives are bringing innovative solutions and dependable services at the best possible value to users across the country. Its high performance outlook is based on customer focus, integrity and capability of its people. Part of the US $17 billion Cummins Inc., Cummins in India is a Group of eight legal entities across 200 locations in the country with a combined turnover of Rs. 11,560 crores in 2012 and employing close to 9,000 individuals.