 "ABB India appoints Sanjeev Sharma as MD")
ABB India beat expectations with net sales up 23 per cent year-on-year (YoY) and earnings before interest, tax, depreciation and amortisation (Ebitda) posting a strong growth of 52 per cent in the first quarter of the 2023 calendar year or Q1CY23 (the company has year-end on Dec 31). The sales growth came from the electrification and motion segments, where revenues grew 16 per cent and 36 per cent – YoY -- respectively. Process automation also grew by 23 per cent YoY. Robotics was relatively flat at 4 per cent growth.
The operating profit margins (OPM) rose 230 basis points (bps) YoY to 11.8 per cent with better capacity utilisation and favourable mix. Order inflows were up 36 per cent YoY
