Engine and related parts manufacturer Cummins India on Thursday (August 3) reported a 58.6 percent year-on-year (YoY) jump in standalone net profit at Rs 315.7 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, Cummins India posted a net profit of Rs 199 crore, the company said in a regulatory filing. CNBC-TV18 Polls had predicted a profit of Rs 291 crore for the quarter under review.
In the quarter, total revenue stood at Rs 2,208.7 crore during the period under review, up 30.9 percent against Rs 1,687 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 2,080 crore for the quarter under review.
At the operating level, EBITDA jumped 59.2 percent to Rs 340.6 crore in the first quarter of this fiscal over Rs 214 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 15.4 percent in the reporting quarter as compared to 12.7 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The results came after the close of the market hours. Shares of Cummins India Ltd ended at Rs 1,879.80, down by Rs 20.35, or 1.07 percent on the BSE.
Also Read: Adani Enterprises Q1 Results | Net profit surges 44% to Rs 674 crore, but revenue plunges by 38%
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