ABB India lost 4.41% to Rs 1,286.80 at 9:41 IST on BSE as the company at the time of announcing Q1 March 2016 results reported a 1.4% decline in its order inflow at Rs 1830 crore over corresponding previous quarter.
The result was announced after market hours yesterday, 25 April 2016.Meanwhile, the S&P BSE Sensex was down 107.46 points or 0.42% at 25,571.47.
On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 8,630 shares in the past two weeks. The stock hit a high of Rs 1,299 and a low of Rs 1,240.60 so far during the day. The stock had hit a 52-week low of Rs 963.05 on 21 January 2016. The stock had hit a 52-week high of Rs 1,444.40 on 17 July 2015.
The large-cap company has equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB India said that large orders, especially those based on industry capex, remained scarce as customers continued to delay investment decisions on low demand and under-utilized capacity. The company's order backlog stood at Rs 7804 crore as on 31 March 2016.
ABB India's net profit rose 31.5% to Rs 71 crore on 10.2% growth in revenue to Rs 2000 crore in Q1 March 2016 over Q1 March 2015. The company attributed the growth in bottom line during the quarter to continuous focus on localization and engineering, while improving operational efficiences.
ABB's business is into power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.
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