July 31 (Reuters) – Engineering services firm ABB India on Friday reported a 3% rise in June-quarter profit, helped by strong demand from infrastructure, data centres and renewables sectors.
The company, which counts Indian Railways and Kolkata Metro as customers, reported a consolidated net profit of 3.62 billion rupees ($37.95 million) from 3.52 billion rupees a year ago.
Here are some details:
• The Indian unit of Switzerland’s ABB reported a 21% increase in consolidated revenue for the quarter to 35.21 billion rupees.
• Total orders jumped 49.6% to 43.63 billion rupees during the quarter.
• Despite an uptick in results, ABB India’s margins were exposed to rising commodity costs and geopolitical uncertainty, impacting supply chains.
• Operating profit margins fell to 12.6% from 13.6% in the previous year.
• The firm’s expenses rose 22.3% during the quarter.
• ABB India’s near- and medium-term growth is expected to be driven primarily by its electrification and motion businesses, supported by demand from areas such as power distribution, data centers and renewable energy projects, analysts said.
($1 = 95.3800 Indian rupees)
(Reporting by Saikeerthi and Mridula Kumar in Bengaluru; Editing by Vijay Kishore)