Diesel and gas engine major Cummins India has reported profit before tax after exceptional items at Rs 303 crore in Q1 FY22, up 331 per cent as compared to the same quarter last year and 24 per cent higher as compared to the preceding quarter.
Total sales increased by 141 per cent year-on-year to Rs 1,167 crore but declined by 5 per cent compared to the preceding quarter.
Domestic sales were at Rs 859 crore, improving by 140 per cent compared to Q1 FY21 and declining by 12 per cent as compared to Q4 FY21.
Exports sales jumped 144 per cent to Rs 308 crore year-on-year and 21 per cent quarter-on-quarter.
Managing Director Ashwath Ram said market conditions remain uncertain and the visibility of complete end-market recovery is somewhat limited, mainly due to anticipation of the third wave of Covid-19.
Thus, the company is not providing full-year revenue guidance for FY 2022.
Part of the 19.8 billion dollar Cummins Inc, Cummins in India is a group of seven legal entities across 200 locations in the country with a combined turnover of over Rs 11,200 crore in 2020 and employing over 10,000 individuals.
( With inputs from ANI )
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