Cummins India, engaged in design and manufacture of diesel engines and generator sets, announced that the company has completed acquisition of the balance 50% shares of Cummins Svam Sales & Service.

Effective October 1, 2015, Cummins Svam Sales & Service has become wholly-owned subsidiary of the company.

Earlier, the company announced a decline in standalone net profit for the quarter ended June 2015.  During the quarter, the profit of the company declined 0.59% to Rs 2,107.30 million from Rs 2,119.90 million  in the same quarter last year.

Revenues for the quarter  rose 25.75% to Rs 13,143.10 million, compared with Rs 10,451 million for the prior year period.

Shares of the company declined Rs 0.9, or 0.08%, to settle at Rs 1,095.00. The total volume of shares traded was 3,101 at the BSE (Thursday).