homevideos Newsearnings NewsCummins India bets on data centre market; says green hydrogen promising segment
Cummins India bets on data centre market; says green hydrogen promising segment
Cummins India’s endeavour is to drive growth every quarter, Ajay Patil, chief financial officer (CFO), told CNBC-TV18. Patil also said that green hydrogen is the next exciting segment to watch.
Cummins India’s endeavour is to drive growth every quarter, Ajay Patil, chief financial officer (CFO), told CNBC-TV18. Patil also said that green hydrogen is the next exciting segment to watch.
Engines and related parts maker Cummins India has reported more than a three-fold increase in its standalone profit after tax (PAT) at Rs 66.76 crore in three months to June, driven by higher domestic and exports sales. The Pune-based company had posted a standalone PAT of Rs 17.89 crore in the June quarter of FY21, according to a regulatory filing.
Revenue from operations spiked 141 percent to Rs 1,167.3 crore during the quarter under review as compared to Rs 484.06 in Q1FY21. Cummins India, in a late evening released on Wednesday, said, “Our domestic markets for the quarter continued to show promise propelled by the government's push on infrastructure, pent-up demand, and economic recovery across multiple segments.”
“Green hydrogen is the exciting part of what the future technologies hold. From Cummins’ standpoint, there is a global business, which is called new power, and the hydrogen, fuel cell battery technologies are all part of that business. From an India perspective, we have internal expertise as well as access to these technologies,” Patil said.
He further said that data centres, digitisations are gaining prominence in the country and he expects the data centre market to continue to grow in high double-digits. According to him, this market will be a growth segment for the company.
On growth, Patil said, “Our endeavour is to keep driving growth on a sequential basis and I am optimistic with respect to how we are seeing things, the order momentum coming.”
(Text input from PTI)
For the entire management interview, watch the video
(Edited by : Dipika Ghosh)
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