Cummins India share price down 6% after posting poor Q4 results

Shares of Cummins India fell nearly 6 percent on the National Stock Exchange in opening deals on Thursday after the company posted disappointing Q4 FY20-21 results.

At 11.13 AM, the share was trading 3.03 percent down or 24.30 points down at Rs 778.35.

The company reported 18.24 percent y-o-y increase in consolidated revenues at Rs 1,256.25 crore for the March 2021 quarter. On a sequential basis, the total sales revenues were down by 12.21 percent compared to total revenues at Rs 1,431.02 crore in previous quarter (December 2020)

The company has reported total income of Rs.1314.78 crores during the period ended March 31, 2021 as compared to Rs.1491.57 crores during the period ended December 31, 2020.

It has posted a net profit / (loss) of Rs 168.56 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs 240.29 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.6.08 for the period ended March 31, 2021 as compared to Rs.8.67 for the period ended December 31, 2020.

The Board of Directors of Cummins India recommended final dividend of Rs 8 per equity shares on 277,200,000 equity shares (Face Value Rs 2 each fully paid up) for the financial year ended on March 31, 2021 to the Members of the Company in addition to the interim dividend of Rs 7 per share declared on January 28, 2021, the company said in an exchange filing.

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