Cummins India Results Earnings Call for Q3FY24
Conference Call with Cummins India Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript. Management in attendance08-02-2024
08-02-2024
Q3FY24 Quarterly Result Announced for Cummins India Ltd.
Industrial Machinery company Cummins India announced Q3FY24 results: Total Sales for the quarter at Rs 2,502 crore were higher by 17% compared to the same quarter last year and higher by 34% compared to the previous quarter. Domestic sales at Rs 2,177 crore were higher by 36% compared to the same quarter last year and higher by 60% compared to the previous quarter. Export sales at Rs 325 crore were lower by 40% compared to the same quarter last year and lower by 36% compared to the previous quarter. Profit before exceptional items and tax at Rs 603 crore is higher by 26% compared to the same quarter last year and higher by 42% compared to the previous quarter. Profit before tax at Rs 602 crore is higher by 26% compared to the same quarter last year and higher by 41% compared to the previous quarter. Profit after tax at Rs 455 crore is higher by 26% compared to the same quarter last year and higher by 38% compared to the previous quarter. Ashwath Ram, Managing Director, Cummins India, said: "The world's major economies are dealing effectively to cool down inflationary trends and maintain growth rates. The continued geopolitical risks and resolution of conflicts will likely take longer, posing continued uncertainty about global trade. Recent conflicts impacting trade routes have caused increased freight costs and lead time for supplies. Amidst these uncertainties, the Indian economy is holding up well on the back of strong domestic demand and continued government spending, notably on infrastructure. The recent Interim budget proposing higher allocation for capital expenditure augurs well for the Indian economy. The company recorded the highest quarterly revenue and profits based on robust domestic demand and is well-positioned to support domestic and export demand. The company has a strong liquidity and financial position to support its operations and growth plans". Result PDF08-02-2024
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