18 Feb , 2025 By : Debdeep Gupta
Shares of ABB India, a manufacturer of industrial equipment and power systems, gained nearly 4 percent to Rs 5,440 in morning trade on February 18 following the company’s strong third-quarter results. The stock rebounded from a three-day losing streak, reflecting investor optimism after the impressive financial performance.
ABB India reported a robust 56 percent increase in its net profit for the October-December 2024 quarter, buoyed by strong revenue growth. The company posted a net profit of Rs 528.41 crore, up from Rs 338.68 crore during the same period last year. This strong performance was driven by a 22 percent rise in revenue, which reached Rs 3,364.93 crore. Notably, the company achieved its highest-ever quarterly revenue for the December-ended period in the last five years.
On a sequential basis, ABB India’s net profit saw a 20 percent uptick, while its revenue climbed 16 percent. In addition to the quarterly performance, ABB India highlighted its impressive achievements for the full year, marking its highest-ever order book at Rs 13,079 crore and revenue of Rs 12,188 crore.
As of December 2024, the company’s order book stood at Rs 9,380 crore, bolstered by Rs 2,695 crore in new orders. However, the company noted a 14 percent decline in new orders compared to the previous year, partly due to the impact of large one-time orders in the same quarter of CY2023.
ABB India attributed the quarterly growth to strong demand across various sectors, including metals, mining, energy, chemicals, buildings and infrastructure, food and beverage, electronics, and renewables. Notably, its Process Automation segment saw growth, driven by the metals industry, while Robotics & Discrete Automation experienced a significant leap in order bookings compared to CY2023.
The board of ABB India also announced a final dividend of Rs 33.50 per share for the financial year ending December 31, 2024, subject to shareholder approval. The company follows a January-December fiscal year.
At about 9:20 am, shares of the company were trading at Rs 5,230, higher by 3.6 percent from the last close on the NSE. ABB India shares have cracked nearly 25 percent since the start of the year.
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