The heavy electrical equipment maker's net profit (from continuing operations) jumped 21.68% to Rs 440.47 crore on 5.16% rise in total revenue from operations to Rs 2,912.16 crore in Q3 CY24 over Q2 CY23.
The revenue growth was driven by focused execution of backlog from base orders. The quarter saw strong order momentum long cycle orders increasing presence in the overall basket.
The company's income from Motion revenue was at Rs 1,079.46 crore (up 9.99% YoY), Electrification revenue came in at Rs 1,154 crore (up 10.75% YoY) and income from Robotics & Discrete Automation stood at Rs 111 crore (down 5.93% YoY), Process Automation stood at Rs 596 crore (down 11.83% YoY), during the period under review.
The firm reported a profit before tax of Rs 597.26 crore for September 2024 quarter, up 23.06% YoY.
During the quarter, operational EBITA soared 32.41% YoY to Rs 478 crore. Operational EBITA margin improved to 16.4% in Q3 2024 as compared with 13% recorded in Q3 2023.
ABB India said that it continued to have a strong order backlog as of 30 September 2024 at Rs 9,995 crore, an increase of 25% YoY, which provides good revenue visibility and is well aligned to support growth plans in the coming quarters.
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The companys cash position continued to remain robust at Rs 5,001 crore at the end of Q3 CY24.
Sanjeev Sharma, managing director of ABB India said, We have delivered another quarter of consistent performance, creating balanced and profitable growth for our stakeholders and deepening engagement with our customers. The quarter was marked by record levels of backlog complemented by a strong book to bill and cash.
The large orders, a marker of economic robustness led by government led capex revival, emerged from diverse sectors like transportation, metals, and even new ones like the data centers. This provides each division the flexibility to leverage opportunities as per their business cycles and bandwidth and entails revenue conversion from a vibrant and varied basket of orders and timeframes.
With respect to its outlook, the company stated, Indias rapid adoption of automation, digitalization, and process-driven manufacturing solutions across industries is expected to fuel sustained capex in infrastructure, productivity-enhancing technologies, and localized manufacturing. At the same time, sectors like green energy and value-added exports show resilience and growth potential in the near term. ABB India is well-positioned to leverage these trends, driving innovation and operational efficiency in a dynamic market.
ABB is a leading global technology company. Its business areas include electrification, process automation, motion (drives and motors) and robotics & discrete automation.
Shares of ABB slipped 5.04% to Rs 6,991.60 on the BSE.
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