ABB revenue up by 62 per cent in Q1

Bangalore, Apr 26 (UNI) Power and Automation major ABB today announced a 62 per cent increase in its earnings at Rs 1327.6 crore during the first quarter of 2007, with net profit up by 69 per cent to touch Rs 86.6 crore.

A Company release said ABB has also registered a record order intake of Rs 2000.3 crore during the first three months, clocking 43 per cent growth.

Commenting on the Q1 results, Company Vice-Chairman and Managing Director Ravi Uppal said ''India's power imperative was driving capacity enhancement and also bringing home the advantage of leveraging technology for improving grid efficiency and reliability across the transmission and distribution value chain.'' The Indian industry continued to scale up through greenfield and brownfield expansions and at the same time increasing its focus on improving productivity, efficiency and quality for global competitiveness, he added.

UNI