ABB India Q4 PAT spurts 49% to Rs 58 cr

On a standalone basis, ABB India's net profit jumped 48.88% to Rs 57.56 crore on 12.93% decrease in total revenue from operations at Rs 1,700.76 crore in Q4 December 2020 over Q4 December 2019.
Profit before tax (PBT) rose 0.53% to Rs 80.39 crore in Q4 December 2020 over Q4 December 2019. Total tax expense for the quarter surged 18.88% to Rs 18.19 crore as against Rs 15.30 crore in Q4 December 2019. The Q4 result was declared during market hours today, 10 February 2021.
The company said it has shown resilient performance as the economy starts to show signs of recovery with strong sequential growth in operating margins. Sequentially, the quarter witnessed uptrend in revenues across all business divisions due to continued focus on execution of order backlog. Factors like export performance, service revenue with system upgrades, sluggish project performance compensated by solid product sales, helped increase revenues during the fourth quarter as compared to the earlier quarter.

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