Engine maker Cummins India today reported a marginal increase in net profit at Rs 144.57 crore for the fourth quarter ended March 31.
The company had posted a net profit of Rs 143.97 crore in the same period last year, Cummins India said in a statement.
The total income from operations, however, declined marginally to Rs 1,040.38 crore in the quarter from Rs 1,041.06 crore in the year-ago period, it added.
The Board of Directors has recommended a final dividend of Rs 6 per equity share of Rs 2 each for 2011-12.
For the 2011-12 financial year, Cummins India's net profit went up marginally to Rs 591.27 crore from Rs 590.99 crore in the previous fiscal.
The total income from operations during FY12 rose by 1.85% to Rs 4,117.22 crore from Rs 4,042.53 crore in FY11, the company said.
Commenting on the results, Cummins India Chairman and MD Anant J Talaulicar said: "The drop in% margins for the year is largely due to an adverse mix with a faster growth in smaller product compared to larger product, aside from increasing inflation."
The company's continued focus on driving efficiencies and reducing cost has helped mitigate the adverse impacts to a great extent, he added.
"While the demand environment has slowed down, we remain confident about our profitable growth prospects. The company is positioned well to sustain its market competitiveness and long-term profitable growth," Talaulicar said.
The shares of the company today closed 4.23% higher at Rs 448.30 apiece on the BSE.
