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Cummins Q2 misses estimates, other income drags profit 2%

Operating profit (earnings before interest, tax, depreciation and amortisation) was up 6 percent to Rs 201 crore and margin expanded by 30 basis points to 16.8 percent compared to same quarter last year.

November 05, 2015 / 05:02 PM IST
 
 
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Moneycontrol Bureau


Cummins India's July-September quarter earnings missed analysts' expectations on Thursday with profit falling 1.9 percent year-on-year to Rs 198.6 crore due to fall in other income.


Revenue increased 4.7 percent to Rs 1,197.72 crore during the quarter compared to Rs 1,144 crore in year-ago period, the diesel and natural gas engines manufacturer said in its filing.


Operating profit (earnings before interest, tax, depreciation and amortisation) was up 6 percent to Rs 201 crore and margin expanded by 30 basis points to 16.8 percent compared to same quarter last year.


Other income declined to Rs 60 crore in quarter ended September 2015 against Rs 72.6 crore in corresponding quarter of last fiscal.

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According to average of estimates of analysts polled by CNBC-TV18, profit was estimated at Rs 206 crore and revenue of Rs 1,296 crore (growth of 13 percent) with operating profit rising 11.4 percent and margin contraction of 30 basis points.

The stock closed at Rs 1,056.95, down Rs 23.40, or 2.17 percent on the Bombay Stock Exchange.

first published: Nov 5, 2015 05:02 pm

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