Earnings Review
Cummins India Jan-Mar PAT falls YoY after rising for 10 qtrs
This story was originally published at 22:16 IST on 28 May 2025
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--Cummins India Jan-Mar lubes revenue INR 6.34 bln vs INR 6.17 bln year ago
--Cummins India Jan-Mar engines revenue INR 24.28 bln vs INR 22.72 bln yr ago
--Cummins India FY25 revenue INR 103.39 bln vs INR 89.59 bln year ago
--Cummins India FY25 net profit INR 19.06 bln vs INR 16.61 bln year ago
--Cummins India board OKs appointment of Soma Dilip Ghosh as CFO from Jul 21
--Cummins India to pay INR 33.50 per share final dividend for FY25
--Cummins India Jan-Mar revenue INR 24.57 bln vs INR 23.16 bln year ago
--Cummins India Jan-Mar net profit INR 5.21 bln vs INR 5.62 bln year ago
--Analysts saw Cummins India Jan-Mar net profit INR 5.04 bln
--Cummins India Jan-Mar net profit INR 5.21 bln
By Sunil Raghu
AHMEDABAD – Cummins India Ltd. registered an on-year fall in its net profit for the March quarter, after clocking on-year growth for 10 quarters, as the company's costs for raw material, taxes and other expenses witnessed a jump higher than its revenue growth for the March quarter.
The diesel and natural gas engine and generator sets manufacturer's net profit fell 7.15% on year to INR 5.21 billion, beating the analysts' estimate of INR 5.04 billion. Sequentially, the engine maker posted a 1.3% increase in its net profit.
Cummins India's revenue for the March quarter rose 6.12% on year to 24.57 billion, lower than the Street's estimate of INR 26.92 billion. The company's revenue was driven by a growth in both, its engine business and lubes business during the quarter. The company's engines business grew to INR 24.28 billion in the March quarter, up 6.9% from INR 22.72 billion a year ago. Similarly, the company's lubes revenue came in at INR 6.34 billion, up 2.8% from INR 6.17 billion a year ago.
Its total expenses grew 9.2% on year to INR 19.88 billion, outpacing the revenue growth for the quarter. The increase in overall cost was largely driven by a 16.77% rise in the cost of materials consumed and a 124.6% on-year rise in other expenses. Cummins India's cost of materials consumed was INR 14.33 billion and other expenses were INR 2.27 billion during the quarter. The company also saw a 14.59% on-year rise in its tax paid for the March quarter, at INR 1.59 billion.
The exports primarily propped up the company's revenue for the latest quarter, though domestic sales were marginally higher. Cummins India's domestic sales rose 1% on year to INR 19.35 billion and revenue from exports rose 39% on year to INR 4.79 billion during the March quarter.
The company will pay a final dividend of INR 33.50 per share for 2024-25 (Apr-Mar). For FY25, the company has reported a 14.8% on-year increase in net profit of INR 19.06 billion and a 15.4% on-year rise in revenues at INR 103.39 billion, from INR 89.59 billion.
The company announced that it has appointed Soma Dilip Ghosh as chief financial officer of the company, effective Jul. 21. The company reported its earnings post market hours. On Wednesday, shares of the company closed at INR 2,976.10 on the National Stock Exchange, up 0.1%. End
Edited by Akul Nishant Akhoury
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