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Hot Pursuit News

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(13 May 2024, 12:15)

ABB India spurts as Q1 PAT soars 87% to Rs 460 cr

ABB India surged 10.09% to Rs 7,906.80 after the company’s net profit (from continuing operations) surged 87.46% to Rs 459.60 crore in Q1 CY24 as against Rs 245.17 crore recorded in Q1 CY23.

The company’s total revenue from operations jumped 27.75% to Rs 3,080.36 crore in Q1 CY24 as compared to Rs 2,411.21 recorded in corresponding quarter last year.

The revenue growth was leveraging on a strong backlog, installed base and market reach of all business divisions. Export and service also played a significant role in the revenue momentum.

The company's income from Robotics & Discrete Automation stood at Rs 109.15 crore (up 61.63% YoY), Motion revenue was at Rs 1,012.79 crore (up 4.17% YoY), Electrification revenue came in at Rs 1296.25 crore (up 29.7% YoY) and income from Process Automation stood at Rs 726.30 crore (up 72.86% YoY), during the period under review.

The firm reported a profit before tax (before exceptional items and one-offs) of Rs 617 crore for Q1 C...

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