Cummins India Limited’s Board of Directors (CIL) reviewed and approved the financial results for the quarter and year ended March 31, 2024, at their meeting. The company’s Q4 standalone financial results show a 20% increase in total sales to Rs. 2,269 Cr. compared to the previous quarter, while domestic sales increased by 38% to Rs. 1,925 Cr. Export sales decreased by 30% to Rs. 344 Cr. 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 performance highlights for the year ended March 31, 2024 are based on standalone financial results show, total Sales for the year at Rs. 8,816 Cr. increased by 16% ,Domestic sales at Rs. 7,143 Cr. increased by 28% , and an 18% decrease in export sales.
However, the company’s profit before tax stood at was 44% higher which stood at Rs. 2,143 Cr., and after tax increased by by 47% at Rs. 1,661 Cr., compared to the previous year. 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.”
