ABB nets ₹79 crore profit in Q2, revenue surges 17%
Led by the government’s electrification push, ABB reported a robust set of quarterly numbers. It posted a net profit of ₹79 crore in the September quarter, a 120 per cent increase when compared to the same period last year; it had reported a profit of ₹36 crore. Gains were driven by growth in orders in the September ended quarter.
It had clocked revenue of ₹1,746 crore, a 17 per cent rise when compared to ₹1,492 crore posted in the year-ago quarter. Orders also marked the quarter for smart cities in Ranchi and the ancient city of Ujjain for smart power distribution equipment like compact substations and ring main units. A steel major also placed a significant order on the electrification front.
