Cummins India’s topline grew 11% yoy to Rs1,503.8cr for the quarter ended December 2018. EBITDA witnessed a healthy growth of 15.3% yoy to Rs226.74cr as compared to Rs196.7cr in the same quarter last year. EBITDA margin increased from 14.5% in Q3FY18 to 15.1% in Q3FY19. Net profit after tax increased 8.7% yoy to Rs187.1cr in Q3FY19 vs. Rs172.2cr in Q3FY18.
Operating performance of the company was driven by sales growth coupled with rational operating expenses (up 10.5% yoy to Rs1,309.1cr in Q3FY19).
Bottomline was growth was attributed to healthy operating performance further supported by higher other income (up 50.8% yoy to Rs75.5cr in Q3FY19).
Finance cost increased 20.7% yoy to Rs4.1cr for the December quarter of FY19.
Depreciation and amortization expenses increased by 18.1% yoy Rs27.9cr for the quarter under consideration.
Other expenses were down 5.6% yoy to Rs162cr in Q3FY19 vs. Rs171.7cr in Q3FY18.
Tax expenses surged 75% yoy to Rs83.1cr during the December quarter.
The company has declared a dividend of Rs7 per equity share for the financial year 2018-19.
Cummins India Ltd share price ended at Rs801.15, up 4.1 points, or 0.51%, from its previous close of Rs797.05 on the BSE. The scrip opened at Rs795.70 and touched a high and low of Rs805.15 and Rs771.50, respectively. A total of 7,64,017 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50-DMA.
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