Cummins India Q1 Results Total Income ₹2,315.56 Crore & Operating Profit ₹428.96 Crore

Cummins India Q1 Results: Cummins India’s financial results for the first quarter of June 2024 show several key changes compared to previous periods. Year-over-Year (YoY), which compares June 2024 with June 2023, reveals a 4.39% increase in total revenue, rising from 2,218.25 crores to 2,315.56 crores. This suggests growth in the company’s sales compared to the same time last year. However, Quarter-on-Quarter (QoQ), which looks at changes from March 2023 to June 2024, shows a slight decrease of 0.15% in revenue.

Cummins India’s Operating income YoY improved significantly by 40.09%, increasing from 306.20 crores in June 2023 to 428.96 crores in June 2024. This is a positive sign of enhanced profitability over the year. Despite this, QoQ, operating income fell by 13.54%, from 292.50 crores in March 2023.

Cummins India’s Net income YoY also grew by 30.78%, reaching 462.61 crores in June 2024 compared to 353.72 crores in June 2023, showing strong annual growth. However, QoQ, net income decreased by 14.15%, reflecting a drop from 348.91 crores in March 2023. Overall, the company saw positive YoY growth but faced some challenges in the latest quarter.

Here's a summary of Cummins India's Q1 financial results for June 2024 compared to previous periods:

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results

Cummins India Q1 Results

For the quarter ending June 30, 2024, Cummins India reported its financial results. The company earned a total income of ₹2,419.29 crore, which includes revenue from operations and other sources. This is slightly higher than the previous quarter's total income of ₹2,418.92 crore. The company's expenses for the quarter were ₹1,891.56 crore, which covers costs like materials, employee salaries, and other operational expenses. This is an increase from ₹1,829.19 crore in the previous quarter.

After deducting these expenses from the total income, Cummins India had a profit before exceptional items and tax of ₹527.73 crore. When including the share of profits from joint ventures and associates, the profit before tax came to ₹595.07 crore. The company paid ₹132.46 crore in taxes, which includes current tax and deferred tax.

After tax, Cummins India’s profit was ₹462.61 crore. They also reported a small loss in other comprehensive income due to changes in the value of financial instruments and adjustments for defined benefit plans. Overall, the company’s total comprehensive income, including these adjustments, was ₹461.94 crore. The earnings per share (EPS) for this quarter was ₹16.69.

Here's a simplified summary of Cummins India's unaudited consolidated financial results for the quarter ended June 30, 2024:

Cummins India Financial Performance

The table provides key financial details about Cummins India. The market capitalization is ₹1,03,721 Crores, showing the total value of the company’s shares. The current price of one share is ₹3,744. The stock has reached a high of ₹4,172 and a low of ₹1,590 in the past period. The price-to-earnings ratio (P/E) is 58.7, indicating how much investors are willing to pay for each unit of earnings. The book value per share is ₹222. The company’s dividend yield is 1.01%, meaning it pays this percentage of the share price in dividends.

Here's the information in table format:

Quarterly Results 

For Cummins India, the financial performance in Dec 2023, Mar 2024, and Jun 2024 shows some key trends. In Dec 2023, the company had strong sales of ₹2,534 crores and a high operating profit margin of 21%. By Mar 2024, sales were slightly lower at ₹2,316 crores, but operating profit improved to 24%, showing better efficiency. In Jun 2024, sales decreased to ₹2,304 crores, and the operating profit margin dropped to 20%. 

Here are the financial figures for Dec 2023, Mar 2024, and Jun 2024:

(Figures in Rs. Crores except the shares)

About Cummins India 

Cummins India, established in 1962, is a leading manufacturer of diesel and natural gas engines in India. The company is part of the global Cummins Group and operates through three main business units: Engine, Power Systems, and Distribution.

The Engine Business produces engines ranging from 125 to 400 horsepower (HP) for commercial vehicles and off-highway equipment like construction machinery. The Power Systems Business makes powerful engines from 700 HP to 4500 HP used in sectors such as marine, railways, defense, and mining. They also create generator sets from 7.5 kilovolt-amperes (kVA) to 3750 kVA for reliable power solutions.

Cummins India has a long history of over 60 years in India and more than 100 years globally. Their products are known for their advanced technology, efficiency, and reliability. They recently introduced CPCB IV+ compliant generators, the first in the industry to receive ARAI accreditation.

With several plants across India, including in Pune, Satara, and Tamil Nadu, Cummins ensures widespread availability of their products. They are committed to delivering dependable power solutions for various needs, from residential to critical infrastructure like healthcare and data centers.