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: Tuesday, April 27, 2021, 5:23 PM IST
Results: ABB India profit jumps more than 2-folds to Rs 151 crore in Q4 FY 2021
deccanherald
ABB India on Tuesday posted more than two-fold jump in net profit to Rs 151 crore for the January-March quarter compared to the year-ago period mainly on the back of higher revenues.
The company had a net profit of Rs 66 crore in the quarter ended on March 31, 2020, according to a regulatory filing by the company.
Total revenue from operations rose to Rs 1,629.15 crore in the quarter from Rs 1,522.24 crore year ago.
The company follows January to December financial year. The first three months of the year continued to be impacted by the effects of the COVID-19 pandemic and the subsequent supply & demand disruptions across several market segments. At ABB India we continue to keep our employees , contractors , suppliers and customers health and safety as our highest priority, Sanjeev Sharma, Managing Director, ABB India, said in a statement.
Ola on Thursday announced its partnership with ABB for the depolyment of robotic and automation solutions at its electric scooter factory in India that is expected to be operational in a few months.
Ola will use the ABB’s automation solutions in its factory’s key manufacturing process lines, including its painting and welding lines, while the ABB robots will be deployed extensively for the battery and motor assembly lines. The use of ABB’s robots and automation solutions will ensure remote digital connectivity and monitoring of the robots that will ride on Ola’s proprietary AI engine and tech stack, the company said in a statement.