Diesel and natural gas engines manufacturer Cummins
India 's net profit rose higher than
expected 2.3% year-on-year to Rs 181 crore in the quarter ended June 2012.
Analysts had a forecast of Rs 150 crore.
Profit after tax in quarter ended June 2011 had included an
exceptional gain of Rs 51.44 crore, pertaining to profits realized on
divestment of company’s entire shareholding in Cummins Exhaust India Ltd.
Total income went up by 20.4% to Rs 1,258 crore from Rs
1,045 crore during the same period, which was above expectations of Rs 1,138
crore.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) shot up by 34% to Rs 232 crore, which too came in higher than
expectations of Rs 202 crore.
EBITDA margin rose by 165 basis points to 18.5% as against
16.8% year-on-year.
At 12:29 hours IST, the share shot up more than 6% to Rs 465
amid large volumes.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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