Cummins India has reported a huge rise in sales for its most recent quarter, which led to a 41% rise in net profit before tax.
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The engine company said today that net sales for the quarter ending 30 September reached Rs7,898.2m (US$158m), an increase of 49.5 % over the same period last year.
Net profit before tax in the quarter rose 41.5% to Rs1,289.5m.
Anant Talaulicar, chairman and managing director, Cummins India said: “The company demonstrated strong growth this quarter over the same quarter last year. The performance has been encouraging across all parts of our business. We feel that our bottom line improvement has also been respectable despite the unprecedented inflation we have experienced in metals. This speaks to the effectiveness of our Six Sigma and other supplier partnership based value engineering efforts.
“Our expansion plans and new product programmes are on track, and we intend to continue growing profitably, although there may be a short term slowdown to our momentum depending on how economic developments unfold. We remain steadfast about sustaining market leadership based on our technology, quality, customer service, people, and stay committed to our Brand Promise of Dependability.”
Speaking to an analysts meeting Talaulicar did say that the company did expect the short-term economic environment to be challenging. However, he added that the medium- to long-term outlook was more positive.
