Shares of Cummins India jumped on reporting a 66% rise in Q3 consolidated net profit!

Shares of Cummins India gained more than 6 per cent in today’s trade.

On February 9, 2023, Cummins India reported results for the third quarter that ended on December 31, 2022(Q3FY23). On a consolidated basis, the company has reported a rise of 65.79% in its net profit at Rs 413.80 crore for Q3FY23 as compared to Rs 249.60 crore for the same quarter in the previous year. The total income of the company increased by 25.78% to Rs 2,269.89 crore for the quarter under review as compared to Rs 1,804.69 crore for the same quarter in the previous year.

Stock price movement of Cummins India Limited

Today, the stock opened at Rs 1540.00, with a high and low of Rs 1618.00 and Rs 1535.15. The stock closed trading at Rs 1577.70, up by 6.94 per cent. The BSE group 'A' stock has a  face value is Rs 2.00.

In the last 6 months, the shares of the company have given about 32% returns and on a YTD basis, the stock has given about 13 per cent returns.

The stock has a 52-week high of Rs 1618.00 and a 52-week low of Rs 907.05. The company has a ROCE of 21.3 per cent and an ROE of 16.9 per cent with a market capitalisation of Rs 43,703 crore.

About the company

Cummins India Limited is the country’s leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution. The company is engaged in the business of manufacturing, trading and selling engines and allied activities.