ABB India Ltd, a leader in electrification and automation, reported a strong 50.3% year-on-year increase in net profit, reaching ₹443.5 crore for the second quarter ending June 30, 2024. In the same period last year, the company had a net profit of ₹295.6 crore.
The company’s revenue from operations grew by 12.8% to ₹2,830.9 crore, compared to ₹2,508.6 crore in the previous fiscal year’s corresponding quarter. Operating profit (EBITDA) surged by 55.6% to ₹542.5 crore, with an EBITDA margin improving to 19.2% from 13.9% in the previous year.
For the quarter, ABB India posted a profit before tax of ₹594 crore, marking a 51% increase, and ₹1,211 crore for the first half of 2024, reflecting a 68% year-on-year growth. The company’s cash reserves were ₹4,872 crore at the end of the second quarter and the first half of FY2024, despite a decrease due to the final dividend payout for FY2023. Earnings per share (EPS) increased to ₹20.89 for the quarter and ₹42.58 for the first half of FY2024, underscoring the company’s enhanced profitability.
ABB India is a leading technology-driven company in India, specializing in electrification, automation, robotics, and motion solutions. A subsidiary of the global ABB Group, ABB India plays a crucial role in advancing industrial productivity and energy efficiency in the country.
The company provides a wide range of products and services across various sectors, including utilities, industry, transport, and infrastructure. ABB India is known for its strong focus on innovation and sustainability, integrating cutting-edge technologies such as digitalization and automation into its offerings.
With a commitment to driving progress in India’s industrial landscape, ABB India continues to be a key player in delivering solutions that enhance operational efficiency and reduce environmental impact. ABB India is a leading technology-driven company in India, specializing in electrification, automation, robotics, and motion solutions.
A subsidiary of the global ABB Group, ABB India plays a crucial role in advancing industrial productivity and energy efficiency in the country. The company provides a wide range of products and services across various sectors, including utilities, industry, transport, and infrastructure. ABB India is known for its strong focus on innovation and sustainability, integrating cutting-edge technologies such as digitalization and automation into its offerings. With a commitment to driving progress in India’s industrial landscape, ABB India continues to be a key player in delivering solutions that enhance operational efficiency and reduce environmental impact.
