ABB India Q4 net profit rises 54% to Rs 129 crore; shares up nearly 12% intraday

Power and automation technologies firm ABB India on Thursday reported a 53.75% jump in net profit at Rs 129.4 crore for the fourth quarter (Q4) ended December 31. The company, which follows January-December financial year, had posted a net profit of Rs 84.16 crore in the same period last year.

At 1316 hours, the shares of ABB India were trading up 11.91% or Rs 119.75 at Rs 1125.00 per scrip intraday on the BSE. 

Net sales in the quarter under review were up 8.12% to Rs 2,384 crore as compared with Rs 2,204.89 crore in the corresponding period last year.

"ABB has continued creating value for its stakeholders in a challenging year. Our technology-driven solutions portfolio aligns very well with our nation's priorities to develop sustainable power and productive industrial infrastructure," ABB India CEO and MD Sanjeev Sharma said.

The company said, "efforts towards increased localisation coupled with a strong focus on cost savings and project execution helped improve profitability".