Diesel engines manufacturer Cummins India saw its net profit for the current third quarter ended December 31, 2011 rise by nine per cent to Rs 140.94 crore from Rs 128.58 crore in the corresponding period last year.
As per Cummins India's financial results for the third quarter, the company's revenue at Rs 999.78 crore showed a decline of 8 per cent from Rs 1090.32 crore recorded in the earlier quarter of the same year.
"The company recorded growth in this quarter over the same period last year, but declined from the preceding quarter, largely due to softness in the power generation segment and some reductions in the auto segment. Profits in the quarter have been positively impacted by better realisations on exports and an improved product mix," said Anant J Talaulicar, chairman and managing director, Cummins India Limited.
According to Talaulicar, inflation continued to be a reason for concern, although the company was successful in partially offsetting these cost escalations and continuing to demonstrate profitable growth by executing our cost reduction.
"We remain optimistic about our long-term growth prospects, and are continuing our investments in future projects at our megasite at Phaltan. This year is very special to us as we are celebrating 50 years of operations in India," he added, while explaining future plans.