Cummins India Limited (NSE: CUMMINSIND) The Board of Directors of Cummins India Limited (CIL), at their meeting held, reviewed, and approved the financial results for the quarter and year ended March 31, 2023.
The year ended March 31, 2023 saw a 26% increase in total sales, with domestic sales increasing by 26%, exports by 27%, profit before exceptions item and tax by 46%, profit before tax by 29%, and profit after tax by 27%. In the quarter ended March 31, 2023, total sales increased by 29% compared to the same quarter last year and decreased by 12% compared to the previous quarter. CIL reported record revenue for the second financial year in a row, driven by strong domestic and export demand and pricing actions.
However, due to emission changes and supply chain challenges, we remain cautiously optimistic about the demand outlook. Ashwath Ram, Managing Director, Cummins India Limited, said, Global end markets for export held up well for the year, while monetary policy actions by various central banks around the world to contain inflation may pose a challenge to consumption in the near term.
