Updated: May 13, 2021 11:40 IST Whether you are planning a live on filmmaking or just a live-streamed jam session, the rise of drop-in audio social spaces such as Clubhouse and Twitter Spaces across India harken back to the era of community radio Share Article AAA Whether you are planning a live on filmmaking or just a live-streamed jam session, the rise of drop-in audio social spaces such as Clubhouse and Twitter Spaces across India harken back to the era of community radio (Subscribe to our Today s Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.)
ET Interviews NEWS Powered by Next couple of years bode well for growth in the Indian industrial market, says Cummins India s MD, Ashwath Ram SECTIONS Next couple of years bode well for growth in the Indian industrial market, says Cummins India s MD, Ashwath Ram Last Updated: Apr 09, 2021, 05:35 PM IST Share Synopsis The bottom line here is that we are ready with investments and with products as well, to meet the demand of tighter and tighter emission norms. Much of the world is eyeing electrification and a zero-carbon target, we are also ready to make those investments happen, says Ashwath Ram.
Updated Apr 08, 2021 | 13:23 IST | Debashish Mukerji With demand restored after the pandemic slump, manufacturing is back with full throttle. But rising commodity prices, pressure to improve technology, while addressing environmental concerns, remain challenging Beyond COVID: Manufacturing’s Innovation Imperative Though the Covid-19 pandemic induced lockdown is long past, the Index of Industrial Production (IIP) is still fluctuating unsteadily from month to month – it was positive for October and December 2020, but negative for November 2021 and January 2021. Industry leaders who gathered at The Economic Times–IBM virtual roundtable on ‘Beyond Covid-19: Manufacturing’s Innovation Imperative’, however, insisted that manufacturing had already regained its vitality and the IIP would soon begin reflecting it. “2020-21 has been a volatile year, but there is distinct improvement now,” said Abhijit Roy, Managing Director and CEO, Berger Paints. “In the first quarter, when the lockdown was in full force, our revenue declined 48% per cent, but in the third quarter, we have grown 25 per cent in terms of value and 32 per cent in volume.”
Engines and power equipment maker Cummins India has said the demand in most of the segments that the company caters to has come back strongly even as supply chain issues remain a challenge for the industry. In an interview with PTI, Cummins India Managing Director Ashwath Ram said the Hydrogen Energy Mission, announced in the Union Budget for this fiscal, will boost the company s business as Cummins has made significant investments in these areas. Demand is pretty robust and we seem to have bounced back strongly. Between the third quarter and fourth quarter, we were operating at around 80-90 per cent or 95 per cent across all of the plants, Ram told PTI.
Cummins India jumped 5.53% to Rs 672.50 after the company s consolidated net profit jumped 20.2% to Rs 240.10 crore on a 1.7% fall in net sales to Rs 1406.66 crore in Q3 FY21 over Q3 FY20. Profit before tax in Q3 December 2020 stood at Rs 309.72 crore, up by 20% from Rs 258.05 crore in Q3 December 2019. Current tax expenses during the quarter increased by 36.8% year-on-year (YoY) to Rs 67.16 crore. Ashwath Ram, managing director, Cummins India, said: On the back of economic recovery from the impact of COVID, some of our key segments reported strong recovery. That coupled with near normal operations enabled us to deliver strong Q3 results. Our domestic business continues to report strong sequential growth (in Q3 up 38%). Our Q3 revenue is up to 97% of last year s revenue for the same period.