New Delhi, Feb 10 (PTI) ABB India on Thursday posted three-fold jump in net profit to Rs 194 crore for December quarter 2021, mainly on the back of higher revenues.
The company follows January to December financial year.
It had reported a net profit of Rs 62 crore for the quarter ended December 31, 2020.
Revenue during the quarter stood at Rs 2,101 crore, higher 24 per cent as compared to Rs 1,701 crore in the same period a year ago, a company statement said.
For the full year (January to December 2021), net profit more than doubled year-on-year to Rs 532 crore from Rs 230 crore in 2020.
The board recommended a dividend of Rs 5.2 per share (260 per cent), subject to the approval of shareholders.
The order received during 2021 surged to Rs 7,666 crore from Rs 5,932 crore. In the latest December quarter, order received was higher at Rs 2,243 crore as against Rs 1,470 crore.
During the quarter, Process Automation business area witnessed good order inflows across all divisions.
“2021 was a year that demonstrated our resilience. Our performance across all key parameters was excellent across majority of business divisions. Customer support, the team’s dedication and ABB’s agile business model helped overcome pandemic and global supply chain challenges in the first half.
“Business fundamentals further improved over the second half of the year. ABB Team in India has developed a robust order & cash position aided by strategic product mix aligned with growth market segments helped improve margins and bottom-line significantly,” said Sanjeev Sharma, Managing Director, ABB India. PTI KKS KKS ANU ANU
