Cummins India Results for Q2 2019-20

The Board of Directors of Cummins India took on record the unaudited financial results for the quarter and half year ended September 30, 2019. Net sales of the company for the quarter ended September 30, 2019, at Rs 1,285 crore, declined 11 per cent as compared to Rs 1,452 crore recorded in the same quarter last year and 2 per cent compared to Rs 1,316 crore recorded in the preceding quarter. Net sales for the half-year ended September 30, 2019, at Rs 2,601 crore declined 5 per cent over the same period last year’s sales of Rs 2,748 crore.

Domestic sales in the current quarter at Rs 947 Cr declined 6 per cent over the same quarter last year and 4 per cent compared to the last quarter. Domestic sales for the halfyear ended September 30, 2019, at Rs 1,937 crore grew 4 per cent over the same period last year.

Ashwath Ram, Managing Director, Cummins India Limited, said, “The current sluggishness in the Indian economy arises from several factors. These factors have all resulted in a reduction in demand across our key segments in the domestic business. In our estimation, this is likely to play out further for some time. The government has already undertaken actions to boost the economy, including allocating incremental funds to the execution of infrastructure projects, easing out liquidity and a reduction in the corporate tax rate.”

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