Cummins India posts record sales growth in Q3 2018-19

Domestic sales in the current quarter represent the highest achieved at Rs 10.22 billion, which grew by 14 per cent over the same quarter last year and grew by two per cent over the preceding quarter. Domestic sales for the nine months ended December 31, 2018 at Rs 28.81 billion grew by 12 per cent over the same period last year, is a record high.

Exports for the current quarter at Rs 4.41 billion grew 5 per cent over the same quarter last year and declined by 2 per cent over the preceding quarter. Exports for the nine months ended December 31, 2018 at Rs 13.30 billion grew by 12 per cent over the same period last year.

Net profit before tax in the quarter ended December 31, 2018 is at Rs 2.70 billion which is 23 per cent higher as compared to Rs 2.20 billion recorded in the same quarter last year and is 9 per cent lower as compared to Rs 2.98 billion recorded in the preceding quarter. Net profit before tax for the nine months ended December 31, 2018 grew 28 per cent to Rs 8.22 billion as compared to Rs 6.44 billion in the same period last year (excluding the gain on sale of real estate of Rs 560 million last year).

Sandeep Sinha, Managing Director, Cummins India, said, ?Domestic sales in the current quarter at Rs 10.22 billion were the highest-ever recorded. This is primarily on account of strong demand in our Industrial and Powergen markets. While we are confident on the medium to long term outlook for domestic sales, in short term, we could be dealing with some volatility arising from the upcoming general elections. Exports revenue grew by 5 per cent over the comparable quarter in the previous year but declined by 2 pre cent over the preceding quarter due to lower demand in global Powergen market. A clear trend is yet to emerge on account of prevailing uncertainties in various economies across the world. We continue to be positioned to outperform in our industry and are investing judiciously in product enhancements, increasing our customer focus, while maintaining strong controls over our cost of operations, improving productivity, quality and positioning ourselves strongly to continue delivering value to all our stakeholders.?