Cummins India shares slip 7% on concerns of Covid-19 impact on biz

The management said the already weak business outlook has worsened, due to the COVID-19 situation impacting the entire global supply chain

Shares of Cummins India slipped 7 per cent to Rs 359 on the BSE on Monday, thus falling 14 per cent in two days, on concerns of weak business outlook.

For the first nine months (April-December) of the financial year 2019-20 (FY20), Cummins India had posted 21.9 per cent year-on-year (YoY) decline in its consolidated profit before tax (PBT) at Rs 642 crore. It had PBT of Rs 822 crore during the same period of FY19. Operational revenues during the period had declined 4.3 per cent to Rs 4,029 crore on a YoY basis.

The already weak business