Shares of ABB India Ltd were trading 3.48% lower at ₹7,105.05 on the NSE as of 10:00 am, following the release of its Q3 financial results, which fell below market expectations.
Key Highlights:
- Net Profit: The company reported a 21.4% YoY increase in net profit to ₹440.5 crore for Q3, ending September 30, 2024. This was below the CNBC-TV18 poll estimate of ₹477.67 crore.
- Revenue: Revenue from operations rose by 5.2% YoY to ₹2,912.2 crore, missing the forecasted revenue of ₹3,258.5 crore.
- Order Inflow: ABB India’s order inflow decreased by 2.7% quarter-on-quarter, indicating potential headwinds in demand.
Profitability Factors:
ABB India attributed its profitability to an improved revenue mix, better margin orders, price revisions, and capacity leverage. Despite these factors, the lower-than-expected performance led to a negative reaction in the stock price.
The earnings miss, combined with a decline in order inflow, may have contributed to the decline in ABB India’s share price as investors reassess growth prospects in the near term.
TOPICS:
ABB India