Shares of Cummins India experienced a significant rally, surging over 10% intraday on February 8 to reach a new all-time high of Rs 2,648.80 on the National Stock Exchange (NSE). This surge followed the company’s release of impressive earnings for the quarter ended December 2023.
Cummins India’s Q3 results showcased a notable improvement in the company’s performance compared to the same period last year. The company reported its highest-ever quarterly consolidated net profit at Rs 455 crore, marking a substantial 26% increase from Rs 360 crore reported in the year-ago quarter. Additionally, it recorded its highest-ever revenue of Rs 2,534 crore, representing a robust year-on-year growth of 16.18% compared to Rs 2,181 crore in Q3 FY23.
Investors responded positively to Cummins India’s stellar performance, driving its shares to new heights. At 2:03 pm, Cummins India shares were trading nearly 9% higher at Rs 2,605 apiece, underscoring the market’s confidence in the company’s growth trajectory.
