Mumbai: Cummins India on Thursday reported a net profit of Rs 152.90 crore for the second quarter of 2017-18.
According to the company, its net profit during the corresponding quarter of last fiscal stood at Rs 222.16 crore.
“The decline in domestic sales during the current quarter was mostly driven by GST implementation and lack of readiness challenges faced by some of our major customers,” said Anant J. Talaulicar, Chairman and Managing Director, Cummins India.
“While a revolutionary change such as GST is bound to have some unforeseen, negative consequences, I am optimistic about the longer term positive impacts on our business and country.”
The company maintained its positive full year outlook for domestic sales as the underlying demand conditions remain stable to increasing.
IANS