ABB India shares jump over 10% post strong March earnings; stock up over 60% in one year

Shares of ABB India jumped over 10 per cent in Thursday's intraday trade on the BSE on back of strong earnings in the March quarter. ABB India has reported over two-fold jump in net profit for the quarter ending March 31, 2022. 

At 11.30 am, shares of ABB India gained 10.24% or Rs 206.20 to 2220 per share on the BSE. At the NSE, it jumped 9.64 per cent to Rs 2,208.80 apiece. Shares of heavy electric equipment maker gained more than 60% in one year over 150% in two years.  

Earlier on Wednesday ABB India reported over two-fold jump in net profit at Rs 370 crore for the March quarter compared to the year-ago period mainly on the back of higher revenue. 

The net profit of the company was Rs 151 crore in the quarter ended March 31, 2021, a company statement said. 

The company follows January to December financial year. 

Total revenue rose to Rs 1,968 crore in the quarter from Rs 1,629 crore in the same period a year ago.