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. PAT for the June-September 2013 period stood at Rs 144 crore (Rs 160 crore) while income from operations stood at Rs 914 crore (Rs 1,068 crore), representing a decline of 14 per cent.
Anant J. Talaulicar, the company’s CMD, 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 is positioning itself to resume growth upon revival of the markets, he added.