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Cummins India Ltd (CIL) has posted a net profit of Rs 139 crore, during Q3-2011, a six per cent decline over that of the same quarter of last fiscal. Total operating income in the comparable quarters showed an 18 per cent increase to stand at Rs 993 crore (Rs 838 crore).
Dividend
The board has declared an interim dividend of 350 per cent, (Rs 7/share) as against the 300 per cent interim paid last year.
Net sales of the company for the nine months ended December 31, 2010, were Rs 2,935.9 crore, an increase of 42 per cent over the corresponding period last year. Net profit rose 37 per cent to stand at Rs 447 crore.
Chairman and MD, Mr Anant J. Talaulicar, said, “The company has demonstrated strong revenue growth over Q3 FY-10. While profits were healthy, they did decline.
“The comparison is somewhat skewed since Q3-2009 was exceptional in that we had come off an extended strike, and caught up on shipments that were held up in the prior quarter. The same quarter a year ago was also therefore positively impacted by favourable high horsepower product mix as well as lower manufacturing overheads.”
Input costs, particularly commodity, have increased over the last year, he said, adding that CIL was successful in partially offsetting these cost escalations by executing cost reduction and Six Sigma programmes.
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