
Power solutions technology provider Cummins India Ltd on Wednesday (February 5) reported a 13% year-on-year (YoY) increase in standalone net profit at ₹514 crore for the third quarter that ended on December 31, 2024, beating the Street expectations.
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The company posted a net profit of ₹455 crore in Q3 FY24. The CNBC-TV18 poll had predicted a profit of ₹485 crore for the quarter under review.
Standalone revenue surged 21.8% to ₹3,086 crore against ₹2,534 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ₹2,787 crore for the quarter under review.
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Standalone EBITDA was up 11.5% to ₹600 crore in the third quarter of this fiscal over ₹538 crore in the year-ago period, again higher than the CNBC-TV18 poll forecast of ₹537.6 crore.
The EBITDA margin stood at 19.4% in the reporting quarter compared to 21.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 19.3% for the quarter under review.
The board of directors has approved and declared an interim dividend of ₹18 (900%) per equity share on 277,200,000 equity shares with face value ₹2 each for the financial year 2024-25. The board has fixed Friday, February 14, as the record date. The interim dividend will be paid by March 3.
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The results came after the close of the market hours. Shares of Cummins India Ltd ended at ₹2,934.05, up by ₹80.60, or 2.82%, on the BSE.
(Edited by : Shoma Bhattacharjee)