Mumbai, Aug 9 (IANS) Engines and generators manufacturer Cummins India on Thursday reported a 17.62 per cent decline in its net standalone profit for the first quarter (Q1) of 2018-19.
According to the company, the net profit during the period under review fell to Rs 183 crore from Rs 222.16 crore during the Q1 of the previous fiscal.
Besides, the total sales from operation declined to Rs 1,296.49 crore from Rs 1,387.69 crore during the like period of 2017-18.
“Domestic sales in the current quarter declined 7 per cent over the same quarter last year. However, the same quarter last year had a strong tailwind from pre-buy on account of impending GST implementation effective July 01, 2017,” Cummins India Managing Director Sandeep Sinha said in a statement.
“We are positive on the medium to long term outlook for domestic sales as underlying demand remains positive arising from sustained investments by the government in creating infrastructure for the Indian economy,” he added.