ABB India profit jumps 22% in September quarter on improved operations

ABB India reported a 22 per cent rise in its net profit for the quarter ended September 2024, driven by improved operational performance.

 

For the quarter under review, profit after tax (PAT) for the company was Rs 440 crore, which the company said “was driven by capacity utilisation, efficiencies, and revenue quality.”

 

ABB India’s revenue from operations during the same period rose five per cent to Rs 2,912 crore, which the company attributed to the focused execution of its backlog from base orders.

 

Expenses in the same period rose two per cent to Rs 2,407.77 crore. Operational Ebitda for the company was Rs 478 crore, up 32 per cent from a year ago.

 

Sanjeev Sharma, managing director, ABB India, noted, “The large orders, a marker of economic robustness led by government-driven capital expenditure revival, emerged from diverse sectors like transportation, metals, and new sectors such as data centres.”

 

ABB India won Rs 3,342 crore in new orders in the quarter under review, up 11 per cent from the previous quarter. “Electrification led the way with a significant step-up in orders for the quarter, headlined by large orders from the data centre segment for Smart Power and Distribution Solutions divisions,” the company said.

 

With the new order wins, ABB India’s order backlog as of September stood at Rs 9,995 crore, an increase of 25 per cent from a year ago.

 

The order backlog, the company stated, provides good revenue visibility and is well aligned to support growth plans in the coming quarters.

 

In its outlook, the company noted that the Indian market remains optimistic, buoyed by expectations of strong capital expenditure in infrastructure development and industrial expansion, despite some economic slackening in the previous quarter.