Cummins India Ltd.’s net sales for the quarter ended March 31, 2012, were Rs. 1,021 crores, an increase of 1.1 per cent over the same period last year and 8.4 per cent over the preceding quarter. Net profit before tax at Rs. 205 crores represented a 4.3 per cent increase over the same period last year and 5.3 per cent over the preceding quarter.
For the year ended March 31, 2012, net sales of the company were Rs. 4,052 crores, an increase of 2.6 per cent over last year. Net profit before tax was Rs. 825 crores (including extraordinary income of Rs. 51 crores), representing a 2.8 per cent increase over last year.
Mr. Anant J. Talaulicar, Chairman & Managing Director, Cummins India Ltd., observed: “The company has reported solid performance for the year ended March 31, 2012, despite adverse market conditions, on the back of strong customer relationships, technology leadership and service support. The drop in percent margins for the year is largely due to an adverse mix with a faster growth in smaller product as compared to larger product, aside from increasing inflation. Our continued focus on driving efficiencies and reducing cost has helped mitigate these adverse impacts to a great extent. While the demand environment has slowed down, we remain confident about our profitable growth prospects. The company is well positioned to sustain its market competitiveness and long-term profitable growth with investments in new technologies, customer service capabilities and capacity expansions, particularly at our Megasite at Phaltan”.