Shares of engineering firm ABB India today ended over 4 per cent lower after the company's January -March quarter earnings failed to impress investors amid weak order inflows.
The stock settled at Rs 1,292.95, down 3.96 per cent, on BSE. During the day, it dipped 7.84 per cent to Rs 1,240.60.
On NSE, the scrip ended with a loss of 4.2 per cent to close at Rs 1,289.
The company received orders worth Rs 1,830 crore in the first quarter of 2016 (January-March) as against Rs 1,856 crore in the same quarter of the previous fiscal.
"Large orders, especially those based on industry capex, remained scarce as customers continued to delay investment decisions on low demand and under-utilised capacity," the company said in a statement yesterday.
ABB India had posted a 30 per cent rise in net profit at Rs 70.98 crore in the January-March quarter compared with Rs 54.29 crore in the corresponding period a year ago, it said.
The firm's total income increased to Rs 2,015.08 crore for the quarter ended March 31, 2016, from Rs 1,815.29 crore in the year-ago period.
