Cummins India Ltd, reported a 33% increase in its standalone net profit for the first quarter ending June 30, 2024. The company announced that its net profit rose to ₹419.8 crore, compared to ₹315.7 crore in the same period last year.
The company’s standalone revenue from operations grew by 4.3%, reaching ₹2,304.2 crore, up from ₹2,208.7 crore in the previous year’s corresponding quarter. Operating-level standalone EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) increased by 37.2%, reaching ₹467.4 crore this quarter, compared to ₹340.6 crore in the previous fiscal year’s corresponding quarter. The EBITDA margin for this quarter was 20.3%, up from 15.4% in the previous year’s corresponding quarter.
The Board of Directors has approved the appointment of Shveta Arya as an additional director and Managing Director Designate, effective August 8, 2024, following the Nomination and Remuneration Committee’s recommendation. She will assume the role of Whole-Time Managing Director on September 1, 2024, for a term of three years, pending approval from the company’s members.
Shveta Arya currently heads the Power System Business Unit for Cummins India, focusing on growth and market expansion in power generation and industrial businesses for both India and global markets.
Before joining Cummins, Arya was in charge of strategy and mergers & acquisitions (M&A) at Thomas Cook India. She has over 20 years of experience in the automotive, travel, financial services, and telecom industries.
Cummins India, a leading player in the Indian engine manufacturing sector, specializes in designing, manufacturing, and distributing high-performance engines and related technologies. With a strong presence in the country, the company offers a range of solutions for various applications, including automotive, industrial, and power generation sectors.
Known for its commitment to innovation and sustainability, Cummins India focuses on developing advanced engine technologies that meet stringent environmental standards while enhancing operational efficiency. The company’s extensive network of service centers and its dedication to customer satisfaction reinforce its reputation as a key contributor to the Indian industrial landscape.
