Cummins India Limited’s (CIL) Board of Directors approved the financial results for the quarter and year ending March 31, 2024, at their meeting. Ashwath Ram, Managing Director, Cummins India Limited, said, “Indian economy continues to remain resilient despite geopolitical events and other economic events impacting the growth of various countries. Key economic indicators like GDP growth rate of 7.6% and consistent PMI indicate optimism about continued growth.”
The company’s Q4 performance based on standalone financial results showed a 20% increase in total sales to Rs. 2,269 Cr. compared to the previous year and a 9% decrease in sales to the previous quarter. Domestic sales increased by 38% compared to Q1 2021, while export sales decreased by 30%. The company’s profit before tax reached Rs. 701 Cr., a 70% increase from the previous quarter, and after tax at Rs. 562 Cr., a 76% increase from the previous quarter and a 23% increase from the previous quarter.
The company’s sales for the year ended March 31, 2024, increased by 16% to Rs. 8,816 Cr., while its domestic sales rose by 28% to Rs. 7,143 Cr. Export sales decreased by 18% compared to the previous year. However, the company’s profit before tax stood at was 44% higher which stood at Rs. 2,143 Cr., and after tax increased by 47% at Rs. 1,661 Cr., compared to the previous year based on standalone financial results.
