ABB Power Products Q1 net profit up 35.16% at Rs 39.44 cr
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The company reported standalone net profit of Rs 39.44 crore for the quarter ended March 31, 2021 as compared to Rs 29.18 crore in the same period last year, registering a year-on-year growth of 35.16 per cent. Net revenue of the company rose substantially by 26.52 per cent at Rs 998.63 crore in January-March quarter of this fiscal as against Rs 789.32 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 26.21 per cent to Rs 941.79 crore from Rs 746.18 crore in year ago period. Other Income grew by 2323.53 per cent at Rs 8.24 crore versus (Mar'20 Rs 0.34 crore).
Operating Profit surged by 12.80 per cent to Rs 73.74 crore as against Rs 65.37 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 10.87 per cent in March quarter. Interest grew by 50.00 per cent y-o-y to Rs 8.07 crore, while Taxation increased by 36.19 per cent at Rs 14.30 crore (Mar'20 Rs 10.50 crore).
