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Lower sales in the domestic market and commodity inflation have hit engines maker Cummins India Ltd, which posted a 24 per cent decline year on year in its second quarter net profit that stood at Rs 129 crore during Q2 FY12 versus Rs 168 crore in Q2 FY11.
Net sales in the quarter under review remained flat at Rs 1,070 crore, against Rs 1068 crore recorded in the corresponding quarter last year.
Mr Anant J Talaulicar, Chairman & Managing Director, CIL said, “Domestic sales were flat sequentially and down 5 per cent over the same quarter last year. Consistent interest rate increases over the last year have dampened demand, particularly in the power generation market. The dip in our earnings this quarter is largely due to an adverse mix — with a decline in larger engine sales and a growth in smaller engine sales, aside from commodity inflation.”
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