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Cummins India’s has recorded a jump of 27 per cent in its net profit at Rs 212 crore against Rs 166 crore last year during the quarter ended June 30, 2014.
However, net sales of the company remained almost flat at Rs 1,033 crore as compared to Rs 1,022 crore in the same period last year, the company said in a statement on Bombay Stock Exchange (BSE).
Commenting on results, Anant J Talaulicar, chairman & managing director, Cummins India Limited, said, “Despite the economic slowdown, the company continued to maintain operating margins, owing largely to its sustained focus on cost efficiency. I am pleased to relay that the first quarter results demonstrate continued growth and positive results by the company. We remain excited about delivering value to our customers and partners with our recently launched CPCB II compliant generator set series.”
The net profit was however, boosted by the profit on sale of long-term investments of Rs. 82.63 crore from the Company liquidating its complete balance holdings in KPIT Infosystems. However, its domestic sales 15 per cent as compared to the same period last year due to sluggish demand. The exports have witnessed a jump of 41 per cent against last year.
