Cummins India surges 14% as Q2 earnings beat estimates

The stock surged 14% to Rs 769 on the BSE after the company reported a better-than-expected 39% Y-o-Y jumped in net profit at Rs 2.12 billion in September quarter, on back of higher revenue.

Shares of Cummins India have surged 14% to Rs 769 per share on the BSE after the company reported a better-than-expected 39% year-on-year (Y-o-Y) jumped in its net profit at Rs 2.12 billion in September quarter, on back of higher revenue. It had a profit of Rs 1.53 billion in the same quarter a year ago.

The company achieved the highest ever sales of Rs 14.52 billion in Q2FY19, up 30%, as compared to Rs 11.18 billion recorded in the same quarter last year.

Analysts on an average had expected a profit of Rs 1.69 billion on sales