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ABB Power Products and Systems India Ltd Q2CY21 net profit at Rs. 16.30 crore

Posted On: 2021-07-23 12:09:19 (Time Zone: UTC)


ABB Power Products and Systems India Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q2 CY2021) - QoQ Comparison

The company has reported total income of Rs.796.82 crores during the period ended June 30, 2021 as compared to Rs.1023.77 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.16.30 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.39.44 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.3.85 for the period ended June 30, 2021 as compared to Rs.9.31 for the period ended March 31, 2021.

FinancialsQ2 CY2021Q1 CY2021% Change
Total Income₹ 796.82 crs₹ 1023.77 crsDown Tick -22.17%
Net Profit₹ 16.30 crs₹ 39.44 crsDown Tick -58.67%
EPS₹ 3.85₹ 9.31Down Tick -58.65%

Financial Results (Q2 CY2021) - YoY Comparison

The company has reported total income of Rs.796.82 crores during the period ended June 30, 2021 as compared to Rs.638.56 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.16.30 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.10.90 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.3.85 for the period ended June 30, 2021 as compared to Rs.2.57 for the period ended June 30, 2020.

FinancialsQ2 CY2021Q2 CY2020% Change
Total Income₹ 796.82 crs₹ 638.56 crsUp Tick 24.78%
Net Profit₹ 16.30 crs₹ 10.90 crsUp Tick 49.54%
EPS₹ 3.85₹ 2.57Up Tick 49.81%

Financial Results (6 months ended CY 2021) - YoY Comparison

The company has reported total income of Rs.1820.59 crores during the 6 months period ended June 30, 2021 as compared to Rs.1449.52 crores during the 6 months period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.55.74 crores for the 6 months period ended June 30, 2021 as against net profit / (loss) of Rs.40.08 crores for the 6 months period ended June 30, 2020.

The company has reported EPS of Rs.13.15 for the 6 months period ended June 30, 2021 as compared to Rs.9.45 for the 6 months period ended June 30, 2020.
Financials6 Months Ended CY20216 Months Ended CY2020% Change
Total Income₹ 1820.59 crs₹ 1449.52 crsUp Tick 25.6%
Net Profit₹ 55.74 crs₹ 40.08 crsUp Tick 39.07%
EPS₹ 13.15₹9.45Up Tick 39.15%

"We managed to sustain business continuity and performance while balancing the ongoing COVID-19 challenges, including lockdowns and disrupted supply chains. Protecting people has been our priority, and we have also strived to support the communities around us during these testing times," said N Venu, Managing Director and CEO of Hitachi ABB Power Grids, India.

"We have remained resilient and delivered on our commitments to our customers in traditional and emerging market segments, within the limited flexibility and regardless of weak industrial demand. We remain cautiously optimistic of opportunities in sectors such as renewables, transmission, rail, and datacenters," he added.

In the June quarter, we received orders worth INR 745.6 crore, up 31.4 percent YoY, driven by rail, data centers, and utilities. We booked multiple transformer orders from power transmission, rail and infrastructure companies, as well as delivered our comprehensive power quality solutions for emerging market segments such as datacenters.Increased power demand resulted in orders from utilities and industry for our high voltage (HV) equipment, digital solutions, and service for power system stability, protection, and energy efficiency. Our focus on digital solutions remained strong. As India aims to achieve 450 gigawatts of renewables penetration by 2030, our power quality consultancy studies supported utility and industry customers in deploying clean energy.

Exports remained healthy, contributing to around a third of the order intake in the second quarter, and we booked breakthrough orders for our transformers and high voltage equipment.

As of 30 June 2021, our order backlog stood at INR 4,770.8 crore, which will unlock revenue streams in the coming months.


Source: Equity Bulls

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