Cummins India Q2 net down 2% at Rs 199 cr

Net sales during the period under review stood at Rs 161.81 crore

Engine manufacturer Cummins India today reported a 1.86 per cent decline in net profit at Rs 198.62 crore in the second quarter ended September 2015.

The company had posted a net profit of Rs 202.40 crore in the same quarter last fiscal, Cummins India said in a BSE filing.

Net sales during the period under review stood at Rs 1,166.86 crore as against Rs 1,117.13 crore in the year-ago period, up 4.45 per cent.

Cummins India CMD Anant J Talaulicar said, "We are seeing gradual improvements in our domestic market compared with a year ago, but the growth is not robust yet."

The global economy is sluggish and has impacted exports, he added.

"Our domestic business recorded a 14 per cent growth compared with the same period last year, but declined 3 per cent compared with the earlier quarter, reflecting the tentative pace of investments in the capital goods sector," Talaulicar said.

On the outlook, he said: "With these uncertainties in the overall global economy which seem likely to continue into the short-to-medium term future, we intend to further strengthen our focus on market share gains, and cost efficiency."

The stock of Cummins India ended the day at Rs 1,056.95, down 2.17 per cent, on BSE.