Cummins India Q1FY24 result: Consolidated net profit up 78% to Rs 353 cr

The consolidated net profit of Cummins India Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 78.52 per cent to Rs 353.72 crore, compared to Rs 198.13 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was up 1.37 per cent. In Q4FY23, the net profit of the company was Rs 348.91 crore.

The revenue from operations for Q1FY24 came in at Rs 2,218.25 crore, compared to Rs 1,695.92 crore year-on-year (YoY). This is a rise of 30.79 per cent.

On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 14.7 per cent. It was Rs 1933.85 crore in Q4FY23.

The total income for Q1FY24 came in at Rs 2,307.23 crore, compared to Rs 1,762.79 crore YoY. This is a rise of 30.88 per cent.

On a QoQ basis, the total income was up 14.14 per cent. It was Rs 2,021.30 crore in Q4FY23.

Cummins India Ltd stock closed at Rs 1,879.50 on Thursday.