You are here: Home » Companies » Results
Business Standard

ABB India reports net profit of Rs 85 crore for July-September quarter

ABB India Limited posted a net profit of Rs 85 crore for the July-September quarter of 2020-21, a company statement said here on Thursday

Topics
ABB India | Q2 results

ANI  |  Business 

cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings

Limited posted a net profit of Rs 85 crore for the July-September quarter of 2020-21, a company statement said here on Thursday.

The company had posted a net profit of Rs 79 crore in the corresponding quarter in the last year.

The company follows the January to December financial year (FY) system, making July-September the third quarter.

According to the statement, the revenues of the company declined from Rs 1,746 crore in the year-ago quarter to Rs 1,612 crore this year.

"On an overall basis, the impact of shortfall in revenues was partially offset by lower operational costs and proactive cost-saving initiatives," it stated.

Meanwhile, the operational Earnings before interest, taxes, and amortization (EBITA) in Q3 this year stood at Rs 103 crore, as compared to Rs 119 crore in the last.

Further, the company stated that although overall orders continue to be impacted owing to the "uncertainty in the economic environment", the quarter was "marked by orders from the transportation, pharma, energy, and water segments. Total orders for the quarter were at Rs 1,308 crore."

The major orders include traction motor and convertor order for Indian Railways, metro projects, and compact secondary substations and ring main units for a private power distribution company, among others.

"The quarter was also marked by two major launches - the antibacterial range of switches - Tvisha and the unveiling of eMart - ABB India's e-marketplace with more than 6,500 products and solutions from electrification and motion business areas," the statement read.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 05 2020. 19:44 IST
RECOMMENDED FOR YOU
.