ABB Q2 net jumps 65 pc to Rs 71.90 crore

Mumbai, July 24 (UNI) Swiss power major ABB has posted a net profit of Rs 71.90 crore for the quarter ended June 30, as compared to Rs 43.60 crore for the same quarter last fiscal, showing a jump of 64.90 per cent.

Announcing the results, the company said its total income has increased from Rs 672.98 crore in Q2 FY-06 to Rs 989.51 crore for Q2 FY-07.

''India's macro growth continues to be encouraging, especially in terms of industrial production and the capital goods space. The country is making some headway in the power sector, especially in terms of urban and rural distribution but there is a long journey ahead and we certainly need to accelerate our efforts,'' company's Vice Chairman&Managing Director Ravi Uppal said, while announcing the second quarter and half-yearly results.

''ABB is making steady progress on its charted growth course, with the wind in our sails, as we create value for our customers through technology, innovation, domain expertise and execution capabilities.

At the same time we continue to increase our productivity, strengthen our resource base, sharpen delivery systems and continue to remain focused on operational efficiencies,'' he added.

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