Cummins India Profit Soars 33% to Rs 420 Crore in Q1 FY25

Mumbai, Aug 6 (PTI) Engine maker Cummins India on Tuesday posted a 33 per cent year-on-year jump in net profit at Rs 419.80 crore in June 2024 quarter.

The company had registered a net profit of Rs 315.62 crore in Q1FY24, Cummins India said in a regulatory filing.

The revenue from operations during the first quarter was Rs 2,262.03 crore, 4 per cent higher than Rs 2,174.62 crore achieved in the same period last year, it said.

Domestic sales were up 12 per cent at Rs 1,873 crore in the April-June period compared to the same quarter last year, while exports declined 22 per cent to Rs 389 crore, Cummins India said.

In the quarter ending June 2024, Cummins India revenue was driven by strong domestic demand from all segments, especially from the industrial sector, said Ashwath Ram, Managing Director, Cummins India.

Powergen revenue was expectedly softer considering the sunsetting of CPCB (Central Pollution Control Board)-II norms on June 30, he said.

"Indian economy continues to be resilient despite global geopolitical uncertainties impacting the business sentiment globally. Indian economic outlook continues to be positive; tax collections are indicating the strength of underlying business activities," said Ram.

He added that the Union Budget for FY25 emphasised the government's continued focus on infrastructure development and continued higher budgetary allocation for infrastructure, special projects for end-to-end connectivity for ports, coal, steel, and fertilizer sectors.

At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions, according to Ram.