/ ABB India Rides On Orders And Revenue Stock Leaps Around 10% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 9 May 2017

ABB India, in its BSE filing on Monday, 8 May 2017, reported its results for the first quarter ended on 31st March 2017.
The orders received for the first quarter was Rs 2,342 crore. An order backlog of Rs 12,023 crore, as on March 31, 2017, provides solid visibility for future revenue, it said.
ABB India’s revenue in the first quarter grew y-o-y to INR 2,169 crore. Sector specific demand revival and an easing in customer payment options have added to this growth. Closer collaboration with customers and our expertise to assess, automate and optimise their operations creates a platform for future expansion, said ABB India.
Profit before tax (PBT) increased to INR 131 crore and profit after tax (PAT) to INR 88 crore in the quarter ended March 31, 2017, with the adoption of the new accounting standards from this quarter. Customizable offerings, continued focus on cash and cost, a differentiated portfolio that matches India’s vision of growth with digital technologies have supported y-o-y improvement in the networking capital position, it added. The stock of ABB India is skyrocketing and the share price crossed 11%.

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