ABB India rose 13.90% to Rs 1145 at 11:54 IST on BSE after net profit rose 53.75% to Rs 129.40 crore on 8.11% increase in total income to Rs 2435.89 crore in Q4 December 2015 over Q4 December 2014.
The result was announced during trading hours today, 4 February 2016.Meanwhile, the BSE Sensex was up 162.17 points, or 0.67%, to 24,385.49.
On BSE, so far 1.10 lakh shares were traded in the counter, compared with an average volume of 10,775 shares in the past one quarter. The stock hit a high of Rs 1,147.65 and a low of Rs 1,017.15 so far during the day. The stock hit a 52-week high of Rs 1,525 on 19 February 2015. The stock hit a 52-week low of Rs 963.05 on 21 January 2016. The stock had underperformed the market over the past one month till 3 February 2016, sliding 10.04% compared with 7.41% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.42% as against Sensex's 8.90% fall.
The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB India's net profit rose 31.23% to Rs 299.88 crore on 5.20% increase in total income to Rs 8153.31 crore in the year ended December 2015 over the year ended December 2014.
Operational Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 39.38% to Rs 269 crore in Q4 December 2015 over Q4 December 2014. Operational EBITDA rose 20.81% to Rs 720 crore in the year ended December 2015 over the year ended December 2014.
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Efforts towards increased localization coupled with strong focus on cost savings and project execution helped improve profitability, the company said in a statement.
The company said that demand in its major areas of businesses was muted, reflecting ongoing macro uncertainties and challenges. Customers remained cautious but continued to make selective investments in infrastructure and critical power transmission projects. While orders received for the quarter stood at Rs 2058 crore, the company reached a full year order book of Rs 8100 crore, driven by a 10% growth in base orders. The orders from renewables (wind and solar) and railways segment more than doubled as compared to 2014 but was offset to a large extent by the silent investment pattern prevalent in the industry. The service business, at nearly Rs 1000 crore for 2015, posted a good double digit growth in orders compared to last year, as customers' focus on quality, safety and maintenance increased and decisions on new investments and large orders were delayed.
An order backlog of Rs 7946 crore, as on 31 December 2015, provides visibility for future revenue, the company added.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.
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