Diesel engines manufacturer Cummins India Ltd's net profit has dropped by 38 per cent to Rs 147.23 crore during the quarter ended December 31, 2013 against Rs 234.08 crore posted over the same period last year.
The company revenue also declined by 8 per cent results per cent to Rs 1002 crore as compared to Rs 1009 crore in the same period last year, the company said in a statement to Bombay Stock Exchange.
Anant J.Talaulicar chairman & managing director,Cummins India said, “In spite of very adverse market conditions, we maintained our margins as compared to last year and expanded margins as compared to the preceding quarter mainly due to our focus on improving cost efficiencies. We are not seeing any signs of improvement in the Indian 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.”
