ABB India Limited informed the exchanges Monday that there is an impact on the company’s performance in April-June quarter consequent to Covid-19 pandemic spread and lockdown mandated by the government across the country since March 24, 2020.
“The real impact could be assessed only when the company finalizes its financial performance for April-June quarter and announces the results to the public in end July 2020,” the company said.
After halting its operations since last week of March the company opened up its manufacturing activities in its locations across the country effective middle of May 2020 as per the directives of MHA wherein some relaxation was announced. It ramped up initially to 50-60% capacity after putting in place the due safety precautions and standard norms and processes prescribed by the MHA and the respective State Governments.
“The company would further ramp up its manufacturing activities in line with the demand pick up and supply chain stabilization going forward.” company said.
ABB India Ltd trade ended at Rs833 up by Rs20.5 or 2.52% from its previous closing of Rs812.50 on the BSE.
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