Mumbai, May 18 (IANS) Cummins India on Thursday reported a decline of 4.97 per cent in its standalone net profit for the fourth quarter (Q4) of 2016-17.
The company is a leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.
According to the company, its standalone net profit during the quarter under review declined to Rs 195.39 crore from Rs 205.63 crore in the corresponding period of 2015-16.
“Our domestic growth story continues based on momentum from the government’s increased investments in infrastructure for the economy,” said Anant J. Talaulicar, Chairman and Managing Director, Cummins India.
“The company remains optimistic about its growth prospects in the domestic market. Exports markets continue to disappoint based on the global economic scenario.”
The company’s board has recommended a final dividend of Rs 9 per share (450 per cent of share capital) aggregating to Rs 14 per share of Rs 2 each (700 per cent of share capital) for the year ended March, 31 2017.