Cummins India Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 08:48 pm IST
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Cummins India Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 25,097.9 million compared to INR 21,489.9 million a year ago. Revenue was INR 26,407.7 million compared to INR 22,698.9 million a year ago. Net income was INR 4,989.1 million compared to INR 4,138 million a year ago. Basic earnings per share from continuing operations was INR 18 compared to INR 14.93 a year ago.
For the nine months, sales was INR 65,881.1 million compared to INR 57,439.5 million a year ago. Revenue was INR 69,593.5 million compared to INR 60,589.4 million a year ago. Net income was INR 11,817.2 million compared to INR 8,792.4 million a year ago. Basic earnings per share from continuing operations was INR 42.63 compared to INR 31.72 a year ago.
Cummins India Limited is an India-based manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets. The Company's business units include engine, power systems and distribution. Its engine business manufactures engines from 60 horsepower (HP) for low, medium and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor. Its power systems business designs and manufactures horsepower engines from 700 HP to 4500 HP for marine, railways, defense and mining applications as well as power generation systems comprising of integrated generator sets in the range of 7.5 kilovolt amperes (kVA) to 3750 kVA including transfer switches, paralleling switchgear and controls for use in standby, prime and continuous rated systems. Its distribution business provides products, packages, services and solutions for uptime of its equipment. Its digital products include Acumen, Incal and Inline.