Cummins India Q3 Net falls 38 per cent to Rs 14.7 crore

Diesel and natural gas engines-maker Cummins India today reported 38 per cent decline in net profit to Rs 14.7 crore in the October-December quarter on a dip in sales.
The company had reported a net profit of Rs 23.4 crore in the year-ago period.
Net sales declined seven per cent to Rs 1,001 crore from Rs 1,071 crore a year ago, the Pune-based company said in a statement.
Pre-tax profit, excluding exceptional items, in the third quarter stood at Rs 207 crore, a decline of 21 per cent from Rs 262 crore in the same period last year.
The company's Chairman & Managing Director Anant J Talaulicar attributed the poor numbers to adverse market conditions.

However, despite this, the company could maintain the margins mainly due to focus on cost efficiencies, he said.
The company also declared 290 per cent interim dividend for the quarter.
"We are not seeing any signs of improvement in the capital goods markets. However, we continue to maintain market share leadership. Despite the short and medium term challenges, our prospects in the long-term continue to look positive", he added.