ABB rose 1.28% at Rs 800.65 at 15:30 IST on BSE after net profit rose 33% to Rs 51.60 crore on 10% increase in revenues to Rs 1858 crore in Q2 June 2012 over Q2 June 2011.
The result was announced during trading hours today, 8 August 2012.
Meanwhile, the BSE Sensex was flat at 17,602.27.
On BSE, 39,172 shares were traded in the counter as against an average daily volume of 7,734 shares in the past one quarter.
The stock hit a high of Rs 814.70 and a low of Rs 785.10 so far during the day. The stock had hit a 52-week high of Rs 915 on 17 February 2012. The stock had hit a 52-week low of Rs 541.10 on 20 December 2011.
The stock had underperformed the market over the past one month until 7 August 2012, falling 0.58% compared with the Sensex's 0.46% rise. The scrip had also underperformed the market in past one quarter, rising 1.76% as against 4.07% rise in the Sensex.
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The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB's operational EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) margin was reported at 4.7% in Q2 June 2012 compared with 5.8% in Q2 June 2011.
The company said it received orders worth Rs 2045 crore in Q2 June 2012, compared with and order intake of Rs 1792 crore in Q2 June 2011, registering a growth of 14%.
ABB said it continues to remain firmly focused on supply chain management and operational excellence including indigenisation and localisation of products.
While business catering to the power sector continued to reflect growth, a not so positive investment climate affected the automation businesses. The company received significant orders in areas such as renewables, projects to optimise energy efficiently in industries and power infrastructures.
The company's order backlog stood at Rs 9175 crore at the end of 30 June 2012 as against Rs 8415 crore for the corresponding period in 2011. With a strong order backlog, revenues of the company for the coming quarters remain secured.
ABB's country manager and managing director, Bazmi Hussain, said, While the short term macroeconomic outlook is a concern, we remain optimistic over the medium to long term. Opportunities will be augmented by emerging sectors like smart grids, cyber security, renewables and energy efficiency solutions. To retain our leadership position in the industries and markets we operate in, we are continually benchmarking our internal productivity and product competitiveness for world class operations. We are hopeful of government initiatives and reform measures to stimulate the capital goods and manufacturing sector.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 1,45,000 people.
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