ABB India net up 15% in fourth quarter

Swedish power equipment maker ABB India on Friday reported Rs 198-crore net profit for the fourth quarter (October-December) of calendar year 2018, registering 15 per cent annual growth from Rs 172 crore in the same period a year ago.

In a regulatory filing on the BSE, the city-based automation firm said revenue for the quarter (Q4) under review also grew 15 per cent annually to Rs 1,940 crore from Rs 1,682 crore in the like period a year ago.

Sequentially, net profit shot up 83 per cent to Rs 198 crore from Rs 108 crore in the third quarter (July-September), while revenue rose 31 per cent to Rs 1,940 crore from Rs 1,682 crore a quarter ago.

For the full year (2018), net profit increased 21.7 per cent annually to Rs 511 crore from Rs 420 crore in 2017 and revenue rose 6.3 per cent to Rs 6,613 crore from Rs 6,212 crore.

The company's blue-chip scrip of Rs 2 face value gained Rs 10.55 per share to close at Rs 1,240.50 when Friday's trading ended on the BSE as against Thursday's closing price of Rs 1,229.95 and opening price of Rs 1,245.

--IANS

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