Cummins India lost 10 percent on poor Q4 results
Updated on 19 May 2017
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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.
At 12:00 pm; the stock was down 8% to Rs 973 on BSE, as compared to 0.13% rise in the S&P BSE Sensex. A combined 1.49 million shares changed hands on the counter on BSE and NSE so far.