ABB India Profit Falls 25 Percent on Higher Costs
ABB India profit fell 25% as raw material costs and forex volatility weighed on margins. Revenue rose 5.8% while total orders jumped 25% during the quarter.
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ABB INDIA LTD reported a 25% drop in quarterly profit to 3.42 billion rupees ($36.20 million) for the January-March period. This marks the fourth consecutive quarterly decline for the India unit of Switzerland-based parent ABB. Rising raw material costs and foreign exchange volatility are eroding margins even as total order intake jumped 25%.
