ABB India Ltd.'s net profit rose in the second quarter of calendar year 2024. The company follows January to December period to report its quarterly results.
Net profit increased 50% to Rs 443.49 crore in the April-June period, as against Rs 295.63 crore in the year-ago period, according to an exchange filing issued on Thursday.
The consolidated revenue of the company rose 12.8% to Rs 2,830.86 crore, as compared with Rs 2,508.63 crore over the same period last year.
ABB India Q2 CY24 Highlights (Consolidated, YoY)
Revenue rose 12.8% to Rs 2,830.86 crore versus Rs 2,508.63 crore.
Ebitda rose 56% to Rs 542.49 crore versus Rs 348.72 crore.
Ebitda margin expanded to 19.2% versus 13.9%.
Net profit up 50% to Rs 2,830.86 crore versus Rs 2,508.63 crore.
The board approved an interim dividend of Rs 10.66 per share.
Other Key Highlights
Total orders for the quarter were at Rs 3,435 crore, reporting a 4.8% decline.
The order backlog at the end of June stood at Rs 9,517 crore, as compared to Rs 7,727 crore in the same period last year.
During the quarter, long cycle orders from emerging (e.g. data centers, renewables, electronics, metro and railways) as well as core industry segments contributed to the growth.
Most business areas posted a significant double-digit growth in orders. Process automation had good traction in service orders, which partially offset the impact of one-time large metal segment order received in Q2 CY23.
Shares of ABB India closed 1.01% higher at Rs 7,950 apiece on the NSE on Thursday, as compared with a 0.87% decline in the benchmark NSE Nifty 50.
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