Categories AlphaGraphs, Earnings, Energy

Cummins India Ltd.(NSE: CLEAN)| Q3 FY23 Results Out| Total Income rises 26% yoy

Cummins India Limited (NSE:CUMMINSIND) is a subsidiary of Cummins Inc., a multinational corporation specializing in the design, manufacture, and distribution of engines, power generation equipment, and related technologies. The company offers a wide range of diesel and natural gas engines, power generation systems, and related components for the automotive, industrial, and power generation markets.

Cummins India Limited announced its Q3FY23 results, reporting a 26% increase in total sales (Rs 2,144 crore) compared to the same quarter last year and a 12% increase compared to the previous quarter. Domestic sales saw a 27% increase (Rs 1,603 crore), while exports sales increased by 23% (Rs 541 crore). The company recorded a 50% increase in profit before exceptional items and tax (Rs 479 crore) compared to the same quarter last year and a 42% increase compared to the previous quarter. The Managing Director, Ashwath Ram, attributed the strong results to continued demand across segments, including international markets, moderating commodity costs, and sustained growth in the economy. Despite supply chain challenges, the company remains cautiously optimistic about the short to medium-term demand outlook.

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