Cummins India beats Street in Q4 with 68% jump in net profit
Mint Mumbai|May 25, 2023
Cummins India Ltd on Wednesday said standalone net profit in the March quarter jumped 68.4% to ₹318.5 crore, crossing the ₹268 crore estimated in a Bloomberg analysts’ poll. The engine maker attributed the strong numbers to robust demand, strategic pricing, and prudent cost management.
Mayur Bhalerao
Cummins India beats Street in Q4 with 68% jump in net profit
 

However, Cummins India shares closed 5.3% lower at 1,595.3 on the National Stock Exchange, as investors were disappointed about the company not issuing a guidance citing geopolitical unpredictability and supply chain conditions.

Revenue hit a record for the second year in a row. Income from operations rose by 28.6% to 1,889.1 crore, compared to 1,468.5 crore a year earlier. The board approved a final dividend of 13 per share for FY23.

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