In Short:
ABB India, an electrification and automation major, saw its standalone profit rise by 50% to ₹443 crore in Q2 of the current year, with revenues up by 13% to ₹2,831 crore. The company’s total orders for the quarter were ₹3,435 crore, and there was growth in long-cycle orders from sectors like data centers and renewables. The stock closed at ₹7,936.20, up by 0.81%.
ABB India Records 50% Rise in Standalone Profit in Q2
Exciting news coming from ABB India! The electrification and automation major has seen a significant increase in its standalone profit after tax (PAT) by 50 per cent to ₹443 crore in the April-June quarter, compared to ₹296 crore in the same period last year.
Revenue and Orders
Marked as Q2 in the company’s calendar year, ABB India also saw its revenue jump by 13 per cent to ₹2,831 crore in the quarter, up from ₹2,509 crore in the previous year. Managing Director, Sanjeev Sharma, attributed this growth to the company’s consistent double-digit revenue and margin growth, as well as a strong order backlog.
The total orders for the quarter amounted to ₹3,435 crore, with total orders for the first half of the year reaching ₹7,042 crore. The order backlogs for ABB currently stand at ₹9,517 crore across various segments.
Market Growth and Contribution
ABB India experienced growth driven by long-cycle orders from emerging sectors such as data centers, renewables, electronics, and metro and railways, as well as core industry segments. The company reported strong double-digit growth in orders across most business areas.
Particularly noteworthy was the growth in service orders within the process automation segment, which helped mitigate the impact of a large one-time metal segment order from Q2 CY2023. Key contributors from the market side included power distribution solutions for data centers, transportation, mobility, and automotive segments.
Stock Performance
Investors will be pleased to know that the stock of ABB India closed at ₹7,936.20, reflecting a 0.81 per cent increase on the BSE on Thursday.
