ABB India Q3 FY24 Results
According to a regulatory filing to the stock exchanges, ABB India attributed the rise in profitability during the quarter to improved cost absorption resulting from increased capacity utilization, a favorable revenue mix, and enhanced price realization, all bolstered by a decrease in commodity prices.
During the last half-year, ABB India’s stock price has surged approximately 23 percent, surpassing the Nifty 50 frontline index, which has seen a rise of about 12 percent over the same period.
On the operational front, the company experienced a 14.6 percent increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching ₹417.2 crore compared to ₹364.3 crore in the corresponding period of the previous year. Additionally, the EBIT margin saw a 10 basis points (bps) increase to 15.1 percent from 15 percent in the same quarter of the prior year. It’s worth noting that one basis point equals one hundredth of a percentage point.
During the fourth quarter, total orders surged by 35 percent to ₹3,147 crore. Throughout 2023, the company secured orders amounting to ₹12,319 crore, marking a 23 percent increase over 2022. The company attributes this expansive growth to enhanced involvement across diverse market segments, alongside portfolio expansion and localization efforts tailored for the Indian market.
