ABB

Electrification and automation company ABB India on Friday announced to invest Rs 1,000 crore in the country in the next five years. The company, which inaugurated a new facility in Nashik on Friday, will be investing the money in adding capacity across the country, its country head and managing director Sanjeev Sharma said here. According to him, ABB India is planning to invest Rs 1,000 crore in the next five years for capacity expansion. Its new factory spread across 78,000 sq ft will help double the Gas Insulated Switchgear (GIS) production capacity, a statement said. The new facility will manufacture primary and secondary GIS. It will serve the power distribution, smart cities, data centres, transport (metro, railways), tunnels, ports, highways and other infrastructure developments, it said. It deploys advanced robotics for manufacturing which connects people, processes, assets, and is capable of relaying real-time data for enhanced productivity. The company also launched an

ABB India on Friday posted a 58 per cent jump in its net profit at Rs 306 crore in the December quarter, mainly on the back of higher revenues. The company's net profit stood at Rs 194 crore in the year-ago period. For Q4 CY2022, the net profit was Rs 306 crore, up by 58 per cent year-on year, the company said in a statement. In the December quarter, total revenue rose to Rs 2,427 crore from Rs 2,101 crore a year ago. The company follows January to December calender as its financial year. For CY2022, the net profit almost doubled to Rs 1,026 crore from Rs 532 crore in CY2021, it said. The profit after tax for CY2022 includes an exceptional item of Rs 339 crore from the profit on the sale of the turbocharger business, it explained. It posted a revenue of Rs 8,568 crore for CY2022, the highest in the last five years. Its revenue was at Rs 6,934 crore in CY2021. ABB India achieved a significant milestone in order booking by reaching Rs 10,028 crore in CY2022 and Rs 2,335 crore for

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December quarter results echoed strength of continuing operations

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It employs around 800 people in South Korea and generated sales of $525 mn in 2015

The system will have the capacity to supply electricity to 80 million people, says ABB

The company won Rs 4,350 crore mega deal for long distance power transmission link in India

Renewables contribution to the company's order book has increased from 2% in 2014 to 15% in 2015

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When fully established in 2017, centre is expected to employ over 1,000 people

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The stock dipped 8% to Rs 1,241 after the company said its order inflows during Q1 are 1% lower at Rs 1,830 crore than the year ago.