ABB India's Profit Decline Amid Rising Material Costs

ABB India reported a 7% drop in net profit to Rs 409 crore for the September quarter, primarily due to increased material costs. Despite this, revenue rose by 14% to Rs 3,311 crore. Growth was driven by robotics, discrete automation, and traction motor orders in various sectors.

Electrification and automation leader ABB India announced a 7% reduction in net profit, reaching Rs 409 crore in the September quarter, attributed mainly to escalating material expenses.

Operating on a January to December fiscal schedule, the firm recorded a net profit of Rs 440 crore for the same period last year, as per its official statement. Profit before tax, excluding exceptional items, was reported at Rs 542 crore for the quarter.

The company's overall revenue climbed by 14% to Rs 3,311 crore, with every business sector showing growth, particularly robotics and discrete automation. ABB India's focus remains on leveraging domestic market opportunities amidst global uncertainties.

(With inputs from agencies.)