Shares of Cummins India soared 6.85 per cent at Rs 3761.15 per share on the BSE in Wednesday’s intraday trade. This came after the company’s topline and bottomline showcased growth in the first quarter of the financial year 2024-24 (Q1FY25).
On Tuesday, Cummins India reported a 33 per cent year-on-year (Y-o-Y) increase in its standalone net profit for the first quarter of FY25, reaching Rs 419.8 crore. This compares to a net profit of Rs 315.7 crore in the same period last year.
The company’s standalone revenue from operations also grew by 4.3 per cent to Rs 2,304.2 crore, up from Rs 2,208.7 crore in the corresponding quarter of the previous fiscal year.
Earnings before interest, tax, depreciation, and amortisation (Ebitda) also saw an increase of 37.2 per cent, rising to Rs 467.4 crore from Rs 340.6 crore in the same period last year.
The Ebitda margin for the quarter stood at 20.3 per cent, compared to 15.4 per cent in the corresponding period of the previous fiscal year.
Leadership shuffle
Additionally, the board of directors approved the appointment of Shveta Arya as an additional director and managing director designate, effective August 8, 2024. Arya will officially assume the role of whole-time managing director from September 1, 2024, for a term of three years, subject to shareholder approval.
Currently, Arya leads the power system business unit at Cummins India, where she is responsible for driving growth and expanding the company’s market presence in power generation and industrial sectors. Before joining Cummins, Arya was involved in strategy and mergers & acquisitions at Thomas Cook India.
The market capitalisation of Cummins India is Rs 1.03 trillion, according to the BSE. At 12:30 PM; the share price of the company were trading 6 per cent higher at Rs 3731.40 a piece on the BSE. By comparison, the BSE Sensex surged by 0.98 per cent to 79,360 levels.
Cummins India is a leading manufacturer of diesel and natural gas engines. The company is involved in the manufacturing, trading, and selling of engines and related activities. It operates in three business segments: Engine, Power Systems, and Distribution.
First Published: Aug 07 2024 | 12:35 PM IST
