ABB records strong growth in PAT, revenue up by 52 pc

Bangalore, July 26 (UNI) Sitting pretty on a fat order book of Rs 3,996.6 crore, power major ABB India today reported a 52 per cent increase in revenue in the first half of 2007 at Rs 2,743.2 crore as against the previous year's figure of Rs 1,810.4 crore.

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

The second quarter saw the revenue jump by 43 per cent at Rs 1,415.6 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 by 40 per cent over the first half of 2006 which was at Rs 2,853 crore.

The second quarter order intake was higher at Rs 1,996.3 crore, up by 38 per cent, compared to the same period last year.

Mr Uppal said the growth recorded by the Indian arm was almost double the growth rate achieved by ABB China. However, the base in China was thrice as big when compared to Indian operations. India was among the top growing regions of 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 in the export market, both in Eastern and Western parts of the globe.

UNI