ABB India shares surge as net profit jumps 58% YoY

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February 13, 2023
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Revenue was up over 15 percent in the December quarter to Rs 2,427 crore while profit after tax rose 58 percent to Rs 306 crore.

Shares of ABB India surged around two percent on February 13, reacting to the company’s quarterly earnings. At 9:20 am, shares of the company were trading 1.1 percent higher at Rs 3,199.65 on the BSE.

Revenue was up over 15 percent in the December quarter to Rs 2,427 crore while profit after tax rose 58 percent to Rs 306 crore.

“Volume growth, strong price realizations, cost optimization, and improved revenue mix were key factors which aided growth throughout the year,” the company said in a regulatory filing.

In Q4 of 2022, orders of ABB India grew four percent YoY to Rs 2,335 crore while order backlog rose 32 percent YoY to Rs 6,468 crore. This provides revenue visibility and is well aligned to support growth plans in the coming quarters, ABB India said.

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