Electrification and automation major ABB India reported a profit after tax (PAT) of ₹440 crore for Q3CY24, marking a 22 per cent year-on-year (YoY) increase from ₹362 crore in the same quarter last year.

The revenues stood at ₹2,912 crore in the third quarter, from ₹2,769 during the same period last year. The growth in revenue was attributed to focused execution of backlog from base orders, supported by a strong book-to-bill ratio and healthy cash flow. Total orders for the third quarter were ₹3342 crore, growing by 11 per cent y-o-y as compared to ₹3,004 crore.

Electrification led the way with a significant step-up in orders for the quarter headlined by large orders from the data centre segment for Smart Power and Distribution Solutions divisions. Orders from non-automotive, industry led segment, and electronics were predominant for Robotics and Discrete Automation business area, which were lower as there were some large orders in Q3CY2023.

Commenting on the company’s performance, Sanjeev Sharma, Managing Director, ABB India said, “Our non-financial parameters continued their positive trajectory as the quarter was marked by multiple certifications and milestone completion in our endeavors on emission control and recognition from relevant external organizations.” Additionally, large orders, led by government-led capex revival have also helped in aiding this growth, he noted.

The company reported a Profit before tax (before exceptional items and one-offs) of ₹597 crore for the quarter, an increase of 23 percent y-o-y .

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