ABB Power Products Q3 net profit drops sharply on demerger write-offs
Wed, Nov 18, 2020 2:58 AM

ABB Power Products Q3 net profit drops sharply on demerger write-offs

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ABB Power Products reported 9.42% fall in Sep-20 quarter top line sales revenues yoy at Rs931.94cr. The company was formed by demerging the power grid business of ABB Ltd into APPSIL and the company was based on the scheme of demerger effective from Feb-19. Considering the niche sector the company operates in, the COVID impact was visible but the recovery in the Sep-20 quarter was equally rapid.

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