ABB India soars 9% on robust March quarter earnings, strong order book

The company has a strong order backlog as of March 31, 2022, at Rs 5,229 crore, which provides revenue visibility and is well aligned to support growth plans in the coming quarters.

Shares of ABB India surged 9 per cent to Rs 2,189 on the BSE in Thursday’s intra-day trade after the company reported a solid performance in the March quarter (Q1CY22). Its standalone net profit more-than-doubled to Rs 370 crore on the back of strong operational performance, while Ebitda margin expanded 170 basis points. The company, engaged in heavy electrical equipment business, had posted profit of Rs 151 crore in Q1CY21.

The company's revenue grew 20.8 per cent year on year (YoY) at Rs 1,968 crore from Rs 1,629 crore in the year-ago quarter. Operational earnings before interest, taxes, depreciation,