Engineering firm ABB India posts fourth straight profit fall on higher raw material costs
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Engineering services firm ABB India reported a 25% year-on-year decline in profit to 3.42 billion rupees for the January-March quarter, marking its fourth consecutive profit fall. Revenue rose 5.8% to 31.84 billion rupees, driven by a 15% increase in its electrification segment. However, higher raw material costs (up 11%) and foreign exchange volatility impacted margins, alongside slower project execution. Total orders increased by 25% to 42.8 billion rupees. Analysts noted potential margin contraction in the process automation business as a near-term challenge.
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