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The Economic Times
The Economic Times
Business
Veer Sharma

Cummins India shares fall over 4% as Q1 net profit dips 8% to Rs 543 crore. Buy, sell or hold?

Cummins India HSBC Nomura

Shares of Cummins India declined 4.3% to their day's low of Rs 5,171 on the BSE on Thursday after the company reported an 8% year-on-year decline in net profit for the June quarter, even as revenue posted strong double-digit growth.

Profit after tax for the quarter stood at Rs 543 crore, down 8% from a year ago. Total sales rose 18% year-on-year and 14% sequentially to Rs 3,375 crore. Domestic sales came in at Rs 2,854 crore, up 22% compared with the year-ago quarter and 14% higher than the previous quarter. Export sales stood at Rs 521 crore, remaining flat on a year-on-year basis while rising 16% sequentially.

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