ABB records strong growth of 59 per cent in PAT

Bangalore, July 26: Sitting pretty with a fat order book of Rs 3996.6 crore, power major ABB India today reported a 52 per cent increase in revenue in the first half of 2007 at Rs.2743.2 crore as against the previous year's figure of Rs.1810.4 crore.

Announcing the results for the first half and second quarter for the fiscal, ABB India Chairman Ravi Uppal said the profit after tax stood at Rs 195.2 crore, up by 59 per cent over corresponding period's figure of Rs 123.2 crore in 2006.

The second quarter saw the revenue jump by 43 per cent at Rs 1415.6 crore as against Rs 989.5 crore recorded during the same period last year.

Orders as on June 30 this year stood at Rs 3996.6 crore, up 40 per cent over first half of 2006 which was at Rs 2853 crore. The second quarter order intake was higher at Rs 1996.3 crore up by 38 per cent when compared to the same period last year.

He said the growth recorded by the Indian arm was almost double than the growth rate achieved by ABB China. However the base in China was thrice as big when compared to Indian operations. He said India was among the top growing regions in the world with growth witnessed in various sectors.

Over the next two years the company would invest Rs 250 crore to increase its capacity in various manufacturing plants in the country besides positioning itself to the export market, both in Eastern and Western parts of the globe.

UNI