ABB India, the electrification and automation major posted around a 13% rise in profit after tax on Tuesday to Rs 345 crore in the fourth quarter ended Dec. 31, mainly on the back of higher revenues. During the October-December period of the preceding fiscal, the company had clocked Rs 306 crore PAT (profit after tax). The company follows January to December as a financial year.
From Rs 2,427 crore in the same quarter a year ago, the total revenue of the company rose to Rs 2,757 crore in the quarter under review. Total orders rose by 35% to Rs 3,147 crore in the fourth quarter. In 2023, the company received orders worth Rs 12,319 crore, up 23% over 2022.
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For the entire fiscal, the company’s PAT was at Rs 1,248 crore, up over Rs 1,026 crore from last financial year. While the revenues surged to Rs 10,447 crore, from Rs 8,568 crore a year ago. ‘Our broad-based growth has come on the back of deepening engagement into diverse market segments and portfolio expansion and localization for the Indian market.
ABB India’s statement
‘We are grateful for the enduring confidence our customers place in our value-adding electrification and automation products, solutions, and services. Our focus on superior margins and a strategic mix continues to aid in robust cash generation.’ the company’s Managing Director Sanjeev Sharma said. Sectors contributing to the growth during the quarter include railways, metals, data centers, cement specialty chemicals, and construction machinery, the company said.
Its board also recommended a final dividend of Rs 23.8 per share.
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