ABB India’s net profit up 31.11 percent in July-September

Kolkata, Nov 3 (IANS) Power and automation technologies company ABB India on Tuesday posted an increase of 31.11 percent in its net profit at Rs.59 crore for July-September this year.

In 2014, the net profit in the corresponding months stood at Rs.45 crore.

A combination of factors, including higher volumes, favourable exchange rates and sustained efforts on operational excellence initiatives, helped improve the firm’s profitability.

Its revenue, in these three months, soared by 6.72 percent at Rs.1,969 crore against Rs.1,845 crore recorded in July-September a year ago.

“We will carefully optimize cost and cash in a market which continues to remain uncertain in its outlook, awaiting a broad-based recovery,” the firm’s managing director, Bazmi Husain, said in a statement.

Its order receipt witnessed a 61.29 percent jump at Rs.2,292 crore in these three months, compensating for the award postponement experienced in the last two fiscal quarters.

The company said continued focus on base orders resulted in healthy growth.

“Large orders also grew significantly during the quarter. Notable projects in transmission, renewables and transportation offset the slowdown in traditional sectors. Order growth was marked by a few firsts like the marine generator and controlled start solutions for mining,” it said.

The company considers January-December as its fiscal year.

Related Posts

Leave a Reply