Cummins India Ltd has reported a robust 43 per cent rise in its first quarter adjusted net profit from operations (without taking into consideration other income).
The engines maker has posted a net profit of Rs 210.73 crore in Q1 FY16 versus Rs 211.99 crore in Q1 15 which included non-recurring profits on the sale of long term investments of Rs 82.63 crore in total of Rs 106.71 crore of other income. Other income in Q1 16 stood at Rs 60 crore.
Total income from operations for the Pune-based company stood at Rs 1314.31 crore versus Rs 1045.14 crore in the two respective quarters, translating into a growth of 25.7% year on year.
Bouyed by the results that beat street estimates, CIL’s stock (FV Rs 2) zoomed to hit a 52-week high of Rs 1,203 per share on the BSE and ended at Rs 1,158.90 apiece, with a gain of Rs 131.20 (12.77 per cent higher) over yesterday’s close.