Cummins India Ltd, a manufacturer of diesel and natural gas engines, has seen a 10 per cent decline year-on-year in its Q2 net profit at Rs 144 crore for the June-September quarter this fiscal against Rs 160 crore in the same quarter last fiscal.
Income from operations stood at Rs 914 crore and Rs 1,068 crore, respectively in the two quarters being compared, representing a decline of 14 per cent.
Anant J. Talaulicar, CMD, Cummins India Ltd, said: “Demand conditions worsened across all our market segments as the Indian economy has continued to lose steam and cost of money continues to be high.”
With economic uncertainties impacting the company’s growth in the short to medium term, Cummins was positioning itself to resume growth upon revival of the markets, he added.