Cummins’ PAT rises 26% Y-o-Y

Pune: The heavy electricals firm Cummins India has announced that its income and profits for Q2FY23 grew both annually and sequentially, but warned that issues of an erratic supply chain and global inflationary trends remain.Cummins earned Rs 1,922 crores in Q2 FY23, up by 14% over Q2 FY22, and 16% over Q1 FY23, while its after-tax profits increased by 26% year-on-year to Rs 252 crores in Q2.“Robust tax collections, softening of commodity cost, focus on infrastructure and continued efforts on digitizing the economy are auguring well for our products and service,” said Ashwath Ram, MD, Cummins India. tnn