Cummins India enjoys 66% rise in Q3 net profit y-o-y

Cummins India enjoys 66% rise in Q3 net profit y-o-yCummins India on Thursday reported a 66 per cent year-on-year jump in its net profit for the third quarter of current financial year.

In a filing to the Bombay Stock Exchange (BSE), the company said that its net profit jumped to Rs 234.1 crore in the October to December quarter, against Rs 140.9 crore in the corresponding period of the previous financial year.

The company enjoyed higher demand during the three months under review. Net sales jumped 13.73 per cent, from Rs 942 crore in the October to December quarter of 2011 to Rs 1,071.3 crore in the same quarter of 2012.

Following the announcement of the quarterly results, Cummins India shares jumped Rs 9.55, or 1.99 per cent, to close at Rs 488.55 on the Bombay Stock Exchange on Thursday. The stock touched an intraday high and low of Rs 494.60 and Rs 480.50, respectively.

The stock touched its 52-week high of Rs 550.00 on January 9 and 52-week low of Rs 406.85 on May 23 last year.