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Covid-19, lockdown hit ABB India's Q4 results; misses estimates on all fronts

India Sweden covid-19 pandemic consequences
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ABB India Ltd’s dismal March quarter (Q1CY20) results, which missed analysts’ forecasts by a wide margin, mirrors challenges across domestic industrial sectors.

The stock, which already fell 33% since 1 January, traded 2% lower in Thursday’s morning deals. The Indian arm of Swiss-Swedish capital goods maker recorded wafer-thin profit margins as it faced hurdles of the covid-19 pandemic and the consequent lockdown.

Earnings before interest, tax, depreciation and amortisation (Ebitda) margin at 2.8% for the March quarter, was 400 basis points (bps) lower year-on-year (yoy).

Investors are disappointed given the expectation of a 7.3% ebitda margin. One basis point is one hundredth of a percentage point.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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