ABB India Q3 Results: Profit Rises 21%
ABB India's Ebitda margin in the July-September quarter expanded to 18.6% versus 15.8% in the year-ago period.
ABB India Ltd.'s consolidated net profit rose 21% in the quarter ended Sept. 30, according to the financial results declared by the company on Monday.
The net profit in the third quarter of the calendar year—the company follows the January-December fiscal cycle—came in at Rs 440 crore, as against Rs 363 crore in the year-ago period.
ABB India Q3 CY24 Highlights (Consolidated, YoY)
Revenue rose 5% to Rs 2,912 crore versus Rs 2,769 crore.
Ebitda rose 23% to Rs 540 crore versus Rs 439 crore.
Ebitda margin expanded to 18.6% versus 15.8%.
Net profit up 21% to Rs 440 crore versus Rs 363 crore.
Total orders for the July-September period amounted to Rs 3,342 crore, up by 11% as compared to the year-ago quarter. Electrification led the way with a significant step-up in orders for the quarter under review.
ABB India's order backlog as of Sept. 30, 2024, stood at Rs 9,995 crore, an increase of 25% year-on-year. This provides revenue visibility and is likely to support the growth plans in the coming quarters.
According to the management, the improved profitability in the September quarter was driven by a strong revenue mix, orders with higher margins and price revision supported by capacity leverage.
In particular, supply chain savings in electrification, higher margins orders for the drives portfolio in motion business, and the execution of electric vehicle segment orders for robotics and discrete automation were specific drivers for profitable growth, the management added.
Shares of ABB India closed 0.94% lower at Rs 7,360.85 apiece on the NSE, compared with a 1.27% decline in the benchmark Nifty 50.
