Cummins India`s Q3 profit climbs on steady demand
Cummins India reported a 12% rise in third-quarter profit on Wednesday, helped by steady demand for its power generators.
The company, a unit of U.S.-based truck engine maker Cummins, said its profit climbed to 5.58 billion rupees (about $64 million) in the three months to Dec. 31 from 4.99 billion rupees a year earlier.
Its overall sales rose 22% to 30.52 billion rupees.
Cummins is best known for its truck engines, but counts power generators, or gensets as its top business in India. Sales of engines and power generators accounted for the company's entire revenue in the third quarter.
Analysts say the company has benefited from a transition to more emission-stringent diesel gensets.
Cummins India's shares closed about 3% higher on Wednesday after its parent forecast double-digit revenue growth for the unit in 2024.
($1 = 87.3470 Indian rupees)
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