BENGALURU (Reuters) - Diesel and natural gas engines maker Cummins India Ltd posted a 61.3% rise in fourth-quarter profit after tax on Wednesday, supported by robust demand in domestic and international markets.
The company reported consolidated profit after tax at 3.49 billion rupees ($42.7 million) in the three months ended March 31, compared to 2.16 billion rupees a year earlier.
Income from operations jumped over 28% to 18.97 billion rupees.
The company's board also declared a final dividend of 13 rupees per share.
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The company, engaged in manufacturing engines for power generation, industrial and automotive sectors, reported an uptick in demand for its diesel engines, benefitting from strong vehicle sales by automotive companies as COVID-related disruptions and chip shortages eased.
During the quarter, the company's domestic sales increased 33.5% year-on-year on a standalone basis, while exports grew 16.6%.
Cummins counts Bhutan and Nepal as its international markets.
Valuation Estimates (next 12 Analysts' sentiment
(next 12 months)
RIC PE EV/EBI Revenue Profit Mean # of Stock to Div
TDA growth growth rating* analysts price yield
Cummins India Ltd 38.85 34.71 13.91 8.49 Hold 13 1.09 1.04
ABB India Ltd 77.08 58.74 21.11 34.07 Hold 23 1.08 0.14
Siemens Ltd 58.67 42.12 17.22 20.67 Hold 19 0.95 0.29
Thermax Limited 42.37 27.95 15.05 32.29 Hold 24 1.03 0.45
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JAN-MARCH STOCK PERFORMANCE
-- All data from Refinitiv
-- $1 = 81.7800 rupees
(Reporting by Priya Sagar in Bengaluru; Editing by Sonia Cheema)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)