Cummins India surges 10%, hits record high on robust Q3 results

The company reported record quarterly revenue driven by strong domestic and export revenue coupled with prudent cost management resulting in record quarterly profit.

Shares of Cummins India hit a record high of Rs 1,616.50, as they rallied 10 per cent on the BSE in Thursday’s intra-day trade after the company reported robust earnings for December quarter (Q3FY23). The company’s profit after tax (PAT) jumped 50 per cent year-on-year (YoY) and 42 per cent quarter-on-quarter (QoQ) to Rs 479 crore during the quarter.

The stock of the country's leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets surpassed its previous high of Rs 1,551.05, touched on December 9, 2022.

At 09:53 AM; Cummins India quoted 8