ABB India Net Profit Declines 7% in Sep Quarter

New Delhi, Nov 6 (PTI) Electrification and automation major ABB India on Thursday reported a 7 per cent decline in net profit to Rs 409 crore in the September quarter, mainly due to rising material costs.

The company follows a January to December fiscal year.

It had posted a net profit of Rs 440 crore in the quarter ended September 30, 2024, a company statement said.

According to the statement, the company reported a profit before tax (before exceptional items and one-offs) of Rs 542 crore for the quarter.

Profitability reflected rising material costs, mainly due to revenue mix and reliance on imports to support delivery commitments in the wake of QCO compliance, it explained.

Profit after tax (net profit) stood at Rs 409 crore for the quarter, it stated.

The company's revenue grew 14 per cent to Rs 3,311 crore for the September quarter from Rs 2,912 crore a year ago.

All business areas posted a growth in revenue during the quarter, led by robotics and discrete automation, it stated.

It was evenly balanced in electrification, with all divisions posting growth. The revenue growth in Motion was led by the execution of traction motor orders.

Process automation was a mixed bag with energy industries offsetting the growth in process industries and measurement and analytics due to readjusted schedules by customers driven by market requirements, it stated.

Sanjeev Sharma, Managing Director, ABB India, said in the statement, "...Base order growth and revenue expansion led the way in driving momentum during the quarter...While remaining optimistic, we will continue to leverage growth opportunities, which the domestic market and the regulatory easing offer amidst global volatility".