Covid-19, lockdown hit ABB India's Q4 results; misses estimates on all fronts
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New Delhi, May 14 -- 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.
The operating ...
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