Cummins India shares rally 5% on strong Q3 print, Rs 18 interim dividend
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Shares of Cummins India surged as much as 5.4% on Thursday to Rs 3,075.95 on the BSE after the power solutions technology provider reported a 12% year-over-year (YoY) rise in its net profit for the third quarter ended December to Rs 558 crore and declared an interim dividend of Rs 18 per share. The company, a unit of US-based truck engine maker Cummins Inc., said its profit climbed from Rs 499 crore a year earlier, driven by steady demand for its power generators. Revenue for the third quarter rose 22% YoY to Rs 3,052 crore. The board of directors declared an interim dividend of Rs 18 per equity share, or 900% on the face value of Rs 2 each, for the financial year 2024-25. The record date has been set for February 14, with dividend payments expected by March 3. Also read | Time to buy the dip? Stock market indicates oversold level Cummins, best known for its truck engines, derives its entire revenue in India from sales of engines and powe...