Cummins India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 07, 2023 at 08:27 am EST
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Cummins India Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 18,936.3 million compared to INR 19,288.5 million a year ago. Revenue was INR 20,113.5 million compared to INR 20,262.6 million a year ago. Net income was INR 3,290.9 million compared to INR 2,673.1 million a year ago. Basic earnings per share from continuing operations was INR 11.87 compared to INR 9.64 a year ago.
For the six months, sales was INR 40,783.2 million compared to INR 35,949.6 million a year ago. Revenue was INR 43,185.8 million compared to INR 37,890.5 million a year ago. Net income was INR 6,828.1 million compared to INR 4,654.4 million a year ago. Basic earnings per share from continuing operations was INR 24.63 compared to INR 16.79 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.