ABB India opens in red after posting 78 per cent decline in net profit for Q2CY20

ABB India Ltd., one of the world's leading engineering companies, announced its quarterly results on July 23, 2020. The company follows calendar year for its financial results, thus reporting its Q2 results for the year 2020. 

It posted net profit of Rs 16.75 crore for Q2CY20, which declined by 75.98 per cent, as compared to Q2CY19 when it reported Rs 69.74 crore. The net sales reported in Q2CY20 came in at Rs 985.78 crore, which declined by 42.88 per cent YoY from Rs 1,725.75 crore in Q2CY19.                                                                                                                                                            

At EBITDA level, the company stood at Rs 23.44 crore in Q2CY20 that decreased by 81.08 per cent YoY. For Q2CY19, it posted an EBITDA of Rs 123.87 crore.                                                                                                                                                    

EBITDA margin as of Q2CY20 was at 2.38 per cent that declined by 4.80 per cent YoY. The net profit margin in Q2CY20 came in at 1.7 per cent, which declined by 2.34 per cent YoY. The net profit margin in Q2CY19 was at 4.04 per cent.                                                                                                                      

On Friday at around 10:45 am, the stock is trading at Rs 907.3 with gap down of 3.12 per cent on BSE.