Business transition produces mixed results for ABB India; stock up over 2%

September quarter witnessed improvement in profitability, while business predictability took a knock

ABB India stock rose by over 2 per cent on Wednesday on the back of its September quarter results (third quarter, Q3; the company follows January–December accounting year) meeting the Street’s expectations.

Revenues grew by 17 per cent year-on-year (YoY) to Rs 1,746 crore, while profit before tax more than doubled to Rs 113 crore, on the back of better portfolio mix and improved efficiency. The quarter’s results don’t include the performance of the power grid division, which is in the process of being hived off from the listed entity.

Given that this is also the third quarter after the