ABB India surges 6% on good Q2 results

The company said order backlog of Rs 12,094 cr as of Q2 provides solid visibility for future revenue

ABB India has moved higher by 6.5% to Rs 1,548 on BSE after the company reported 39% year on year (Y-o-Y) growth in net profit at Rs 76 crore for the quarter ended June 30, 2017 (Q2CY17). Revenues grew 6% at Rs 2,224 crore on YoY basis.

“This was a quarter where the lag effect of demonetization and troughing corporate lending met with the anticipation of Goods and Services Tax (GST). Continued close collaboration led to deeper insights of customer operations in a dynamic environment. This ensured revenue growth. Lean management, relentless pursuit of cash over revenue, and similar