ABB India Ltd witnessed a remarkable 9% surge in Wednesday’s trade following the company’s report of double-digit growth in sales and profit for the December quarter. The company’s board also declared a final dividend of Rs 23.80 per share.
Highlighting the strong performance, ABB stated that the fourth quarter saw continued traction in large orders, with railways, metals, data centers, cement, specialty chemicals, and construction machinery contributing significantly to earnings.
The stock reached a high of Rs 4,933.95 on BSE, reflecting investor confidence in ABB India’s robust financial performance. ABB India’s profit for the quarter surged 13% year-on-year to Rs 345 crore, supported by a 14% YoY increase in revenue to Rs 2,757 crore. Additionally, the company secured orders worth Rs 3,147 crore, leading to a total order book of Rs 8,404 crore.
Following ABB’s quarterly results, Motilal Oswal recommended a ‘buy’ on the stock, noting a slight revenue miss but a healthy beat on profitability. The company is set to host a conference call at 11:30 am today to discuss its performance.
Managing Director Sanjeev Sharma highlighted, “December’s were the highest quarterly revenues in the last five years,” signifying the positive momentum and growth trajectory of ABB India Ltd.
