ABB India rose 0.6% to Rs 1,281 at 13:00 IST on BSE after net profit rose 31.11% to Rs 59 crore on 6.72% growth in revenue to Rs 1969 crore in Q3 September 2015 over Q3 September 2014.
The result was announced during market hours today, 3 November 2015.
Meanwhile, the S&P BSE Sensex was up 57.97 points or 0.22% at 26,617.12.
On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 13,571 shares in the past one quarter.
The stock was volatile. The stock rose as much as 2.02% at the day's high of Rs 1,299.05 so far during the day. The stock lost as much as 4.1% at the day's low of Rs 1,221 so far during the day. The stock had hit a 52-week low of Rs 1,021.05 on 29 September 2015. The stock had hit a 52-week high of Rs 1,525 on 19 February 2015.
The stock had outperformed the market over the past one month till 2 November 2015, surging 21.12% compared with Sensex's 1.29% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.97% as against Sensex's 5.53% fall.
The large-cap company has equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB India attributed the growth in top line during the quarter to better value offering, enhanced localization coupled with extensive customer outreach in new markets. Disciplined execution and focused conversion of order backlog buffered headwinds of tight liquidity and excess capacity within industry, ABB India said in a statement. The company attributed the growth in bottom line during the quarter to a combination of factors including higher volumes, favourable exchange rates and sustained efforts on operational excellence initiatives.
ABB India's order inflow rose 61.29% to Rs 2292 crore in Q3 September 2015 over Q3 September 2014. Order backlog stood at Rs 8275 crore as on 30 September 2015, providing visibility for future revenue, ABB India said.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.
Powered by Capital Market - Live News
