ABB India Q3 net profit jumps ~21.40% y-o-y to ₹440.50 Crore

5 Nov 2024 , 10:55 AM

ABB India Ltd announced a 21.4% year-on-year (YoY) increase in net profit to ₹440.5 Crore for the third quarter, ending September 30, 2024. ABB India reported improved profitability as a result of a stronger revenue mix, higher margin orders, and price revisions backed by capacity leverage.

The company’s financial year runs from January to December. In the preceding fiscal quarter, ABB India reported a net profit of ₹363 Crore, according to a regulatory filing. 

The company’s income from operations climbed by 5.2% to ₹2,912.2 Crore, up from ₹2,769.1 Crore in the previous fiscal year. 

Revenue growth was enabled by a strong focus on execution, better visibility via a stable backlog, a diverse revenue mix, and efficient capacity utilisation. Electrification benefited from a consistent execution and expansion throughout divisions. Motion reported increasing income from traction motors, system drives, and product drives.

EBITDA increased by 23.2% to ₹540.2 Crore in the second quarter of this fiscal year, up from ₹438.5 Crore in the same period last year.

The EBITDA margin was 18.6% in the reporting quarter, up from 15.8% in the same period last fiscal year.

Orders totalled ₹3,342 Crore, up 11% from Q3 CY2023. Electrification led the way with a strong increase in orders for the quarter, bolstered by large orders from the data centre industry for smart power and distribution solutions.

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