ABB India gains after Q1 results

ABB India rose 3.15% to Rs 1,445.95 at 9:25 IST on BSE after net profit rose 3.2% to Rs 88.17 crore on 8.4% increase in net sales to Rs 2146.04 crore in Q1 March 2017 over Q1 March 2016.

The result was announced after market hours yesterday, 8 May 2017.

Meanwhile, the S&P BSE Sensex was up 61.70 points, or 0.21% to 29,987.85.

On the BSE, 2,404 shares were traded in the counter so far, compared with average daily volumes of 9,792 shares in the past one quarter. The stock had hit a high of Rs 1,449.95 and a low of Rs 1,403.95 so far during the day. The stock hit a 52-week high of Rs 1,482.25 on 18 April 2017. The stock hit a 52-week low of Rs 950 on 9 November 2016.

The stock had outperformed the market over the past one month till 8 May 2017, rising 1.54% compared with 0.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.80% as against Sensex's 5.61% rise.

The large-cap company has equity capital of Rs 42.38 crore. Face value per share is Rs 2.

The orders received in Q1 March 2017 was Rs 2342 crore. An order backlog of Rs 12023 crore, as on 31 March 2017, provides solid visibility for future revenue, ABB India said in a statement.

ABB India said its operational EBITA rose 8.20% to Rs 132 crore in Q1 March 2017 over Q1 March 2016.

Operational EBITA represents income from operations excluding amortization expense on intangibles;) restructuring and restructuring-related expenses; non-operational pension cost; gains and losses from sale of businesses, acquisition-related expenses and certain non-operational items; as well as foreign exchange/commodity timing differences in income from operations consisting of unrealized gains and losses on derivatives (foreign exchange, commodities, embedded derivatives); unrealized foreign exchange movements on receivables/payables (and related assets/liabilities).

ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.

Powered by Capital Market - Live News