Cummins India Reports 33% YoY Profit Surge in Q1FY25

Cummins India announced a notable 33% year-on-year increase in net profit, reaching Rs 419.80 crore for the June 2024 quarter. Domestic sales surged by 12%, counterbalanced by a 22% decline in exports. The strong performance was attributed to robust domestic demand across all segments, particularly the industrial sector.

Engine maker Cummins India reported a substantial 33% year-on-year increase in net profit, amounting to Rs 419.80 crore for the June 2024 quarter.

The company had previously recorded a net profit of Rs 315.62 crore in Q1FY24, according to their regulatory filing.

Revenue from operations climbed to Rs 2,262.03 crore, marking a 4% increase from the Rs 2,174.62 crore achieved in the same quarter last year. Domestic sales saw a 12% rise to Rs 1,873 crore, while exports dropped by 22% to Rs 389 crore during the same period.

Managing Director Ashwath Ram highlighted that the revenue was bolstered by strong domestic demand in all segments, particularly the industrial sector. He noted that the Powergen revenue was softer due to the expiration of CPCB-II norms on June 30.

Ram also emphasized the resilience of the Indian economy despite global geopolitical uncertainties and praised the Union Budget for FY25 for its focus on infrastructure development and higher budgetary allocations for key sectors like ports, coal, steel, and fertilizers.