Cummins India PAT at Rs 420 cr in Q1FY2024

07 Aug 2024 CW Team

The Board of Directors of Cummins India (CIL), at their meeting, reviewed, and approved the financial results for the quarter that ended June 30, 2024.

Performance Highlights (based on standalone financial results) for the quarter ended June 30, 2024: Total Sales for the quarter at Rs 2,262 crore increased by 4% compared to the same quarter last year and were flat compared to the previous quarter. Domestic sales at Rs 1,873 crore increased by 12% compared to the same quarter last year and decreased by 3% compared to the previous quarter. Exports Sales at Rs 389 crore decreased by 22% compared to the same quarter last year and increased by 13% compared to the previous quarter. Profit before tax at Rs 551 crore was higher by 33% compared to the same quarter last year and lower by 21% compared to the previous quarter. Profit after tax at Rs 420 crore was higher by 33% compared to the same quarter last year and lower by 25% compared to the previous quarter.

Ashwath Ram, Managing Director, Cummins India, said: Indian economy continues to be resilient despite global geopolitical uncertainties impacting the business sentiment globally. Indian economic outlook continues to be positive; tax collections are indicating the strength of underlying business activities. The latest Union budget emphasised the government's continued focus on infrastructure development and continued higher budgetary allocation for infrastructure, special projects for end-to-end connectivity for ports, coal, steel, and fertilizer sectors. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions.

For the quarter ending June 30, 2024, CIL domestic revenue was driven by strong domestic demand from all segments especially from the industrial sector. Powergen revenue was expectedly softer considering the sunsetting of CPCB II norms on June 30, 2024. Exports revenue grew 13% over the prior quarter due to an improvement in demand from the end markets.

Future outlook The investment in infrastructure (Public and Private) and broader economic growth continue to drive profitable growth for the company. For the Powergen sector, there is a complete switchover to CPCB IV+ emission norms-compliant products effective July 1, 2024. The company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. We remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects.

Regarding exports, the company closely monitors the results of geopolitical events unfolding in different parts of the world and their impact on global demand and supply chains. With a diversified portfolio of products, the company remains optimistic about the export demand.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Board of Directors of Cummins India (CIL), at their meeting, reviewed, and approved the financial results for the quarter that ended June 30, 2024. Performance Highlights (based on standalone financial results) for the quarter ended June 30, 2024: Total Sales for the quarter at Rs 2,262 crore increased by 4% compared to the same quarter last year and were flat compared to the previous quarter. Domestic sales at Rs 1,873 crore increased by 12% compared to the same quarter last year and decreased by 3% compared to the previous quarter. Exports Sales at Rs 389 crore decreased by 22% compared to the same quarter last year and increased by 13% compared to the previous quarter. Profit before tax at Rs 551 crore was higher by 33% compared to the same quarter last year and lower by 21% compared to the previous quarter. Profit after tax at Rs 420 crore was higher by 33% compared to the same quarter last year and lower by 25% compared to the previous quarter. Ashwath Ram, Managing Director, Cummins India, said: Indian economy continues to be resilient despite global geopolitical uncertainties impacting the business sentiment globally. Indian economic outlook continues to be positive; tax collections are indicating the strength of underlying business activities. The latest Union budget emphasised the government's continued focus on infrastructure development and continued higher budgetary allocation for infrastructure, special projects for end-to-end connectivity for ports, coal, steel, and fertilizer sectors. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions. For the quarter ending June 30, 2024, CIL domestic revenue was driven by strong domestic demand from all segments especially from the industrial sector. Powergen revenue was expectedly softer considering the sunsetting of CPCB II norms on June 30, 2024. Exports revenue grew 13% over the prior quarter due to an improvement in demand from the end markets. Future outlook The investment in infrastructure (Public and Private) and broader economic growth continue to drive profitable growth for the company. For the Powergen sector, there is a complete switchover to CPCB IV+ emission norms-compliant products effective July 1, 2024. The company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. We remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects. Regarding exports, the company closely monitors the results of geopolitical events unfolding in different parts of the world and their impact on global demand and supply chains. With a diversified portfolio of products, the company remains optimistic about the export demand.

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Infrastructure Energy

01 Sep 2025

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Infrastructure Transport

09 Sep 2025

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..