ABB India net profit falls 25 pc to Rs 342 cr in Mar qtr

Electrification and automation major ABB India on Friday reported over 25 per cent decline in its net profit to Rs 342 crore for the March quarter. The Board has approved the proposal to seek shareholders approval for the appointment of Sanjeev Sharma as a Non-Executive, Non-Independent Director, with effect from January 1, 2027, for a term of 2 years, subject to shareholders approval.

Electrification and automation major ABB India on Friday reported over 25 per cent decline in its net profit to Rs 342 crore for the March quarter. The net profit stood at 457 crore in the quarter ended March 31, 2025, a company statement said. The company follows a January to December fiscal year. According to the statement, the company reported a profit before tax of Rs 462 crore for the quarter. The company explained that profitability was impacted by an adverse revenue mix, execution of lower-margin orders, and elevated input costs amid forex volatility and slower project execution. Electrification saw a revenue conversion of a large order in Q1 CY2025 (January-March 2025). Motion experienced a price drop in some markets and products, and automation profit was softer due to lower revenues, it stated. Geopolitical tensions in West Asia led to limited export disruptions, but materially increased logistics complexity across the value chain, resulting in higher costs and elongated supply timelines, it added. Its revenue for the quarter rose 6 per cent to Rs 3,184 crore compared to the first quarter of the last year (Rs 3,010 crore in January-March 2025). Total orders in the first quarter (January-March 2026) amounted to Rs 4,280 crore (over 25 per cent year-on-year), representing a strong start to the year. ''Our effective conversion of market opportunities into higher order inflows has further strengthened our diversified order book and enhanced revenue visibility,'' Sanjeev Sharma, Country Head and Managing Director, ABB India, said. Based on the recommendation of the Nomination and Remuneration Committee, the Board has unanimously approved the proposal to seek shareholders' approval for the appointment of TK Sridhar as Managing Director, with effect from January 1, 2027, for a term of 5 years, subject to shareholders' approval. The term of Sanjeev Sharma as Managing Director will end on December 31, 2026. The Board has approved the proposal to seek shareholders' approval for the appointment of Sanjeev Sharma as a Non-Executive, Non-Independent Director, with effect from January 1, 2027, for a term of 2 years, subject to shareholders' approval.