Cummins India falls 10% on disappointing Q4 results

The company reported 5% year on year drop in net profit at Rs 158 crore in Q4FY17.

Cummins India dipped 10% to Rs 948 on BSE in intra-day trade after the company reported 5% drop in net profit at Rs 158 crore for the quarter ended March 2017 (Q4FY17), due to unfavorable product mix. It had a profit of Rs 167 crore in the same quarter year ago.

Net sales of the company during quarter under review increased 18.9% to Rs 1,235 crore against Rs 1,039 crore in the corresponding quarter of previous fiscal.

Analysts on an average had expected profit of Rs 208 crore on revenues of Rs 1,299 crore for the