ABB India continues to register profitable growth

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Bangalore, Jul 25(UNI) ABB India, a leader in power and automation technologies, has earned a net profit of Rupees 2495 million for the period ending June 30 (Half Yearly), 28 per cent more than the previous year's corresponding period of Rs 1952 million. Disclosing this to newsmen here ABB India Managing Director Biplab Majumdar said the company booked orders worth Rs 49040 million during the half year, 23 per cent higher compared with 2007 half yearly. The net profit during the second quarter was Rs 1318 million, 21 per cent more than the second quarter last year.

He said the company, during the second quarter received significant orders for industrial automation and electrifications driven by capacity additions as well as projects to improve productivity and efficiency in industry. He observed that the combined impact of double digit inflation, rising energy costs, volatile commodity markets and interest rates was posing a challenge today. However, demand-supply gap would drive investments and long term growth projects of Indian economy would remain unaffected, he added.

Answering a question he said the strong order intake durign the first two quarters of the year had helped strengthen the order backlog from Rs 50260 million at the beginning of the year to Rs 67769 million at the end of June. This denoted a 46 per cent increse in the order backlog volume from Rs 46362 million at the end of June last year.

Replying to another question he said the company would also involve in a big way in solar projects which was still in its infancy in India.

He said the company had exported Rs 385 crore worth products during the half year.

UNI SR RKN1820

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