The company follows the financial year from January to December.
It had posted a profit after tax of Rs 245 crore in the corresponding period of the previous fiscal year.
During the quarter, consolidated revenues came in at Rs 3,080 crore, up 28% from Rs 2,411 crore in the year-ago period.
“We announce a strong start to 2024, building on our robust performance from Q4 of 2023. The increased demand for technologically superior solutions, coupled with the government’s capital expenditure focus on new-age themes such as energy efficiency, decarbonization, and digitalization, has significantly driven our order momentum,” ABB India said in a statement.During the quarter, the company said it had an order backlog of Rs 8,932 crore, up from Rs 7,170 in January-March quarter earlier.Orders
Total orders surged to Rs 3,607 crore, the highest for the first quarter in the last five years. “Growth in orders underline the success of our multi-division portfolio to capture different cycles in the market segments. The quarterly growth was led by our electrification and process automation business areas, which more than offset the temporary customer decisions sluggishness in motion and robotics and discrete automation business areas,” the company said.
ABB India’s scrip ended at Rs 7128, up 2.76% on the BSE, Friday. Benchmark Sensex ended 0.36% higher. The earnings were announced after market hours.
