News: ABB reported a strong set of Q3CY24 results. Revenues grew by 5.2% YoY to Rs 2912 crore, mainly driven by the electrification and motion division which grew by 11% & 10% YoY respectively, offset by a 12% decline in Process automation segment. Order inflows grew by 11.3% YoY at Rs 3342 crore, which mainly came in from the emerging (Data Centres, renewables, electronics) and core sectors as well. Order backlog grew by 25% YoY at Rs 9995 crore. Strong execution and operating leverage led to EBITDA coming in at 18.6% vs. 19.2% in Q2CY24 and 15.8% Q2CY23 YoY. Consequently, PAT came in at Rs 440 crore, up 22% YoY.
Views: Q3CY24 turned out to be a good quarter for ABB and given the growth in backlog and capex environment, we expect the company to report strong performance over the next 3-5 years.
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