ABB registers profit in first quarter

Bangalore, Apr 25: ABB India, a leader in power and automation technologies, had posted a 17 per cent increase in revenue at Rs 1553.8 crore during the first quarter ending March 31, as compared to to Rs 1327.6 crore during the corresponding period. The net profit rose to Rs 117 crore, up 36 per cent over the corresponding period's figure of Rs 86.6 crore.

Announcing the results, ABB India Country manager and Managing Director Biplab Majumdar said the power sector was gaining momentum in terms of new capacity and augmentation across generation, transmission and distribution.

''Our focus on ensuring sustained profitable growth continues. We have delivered consistent performance,'' he added.

Mr Majumdar said the company had a order backlog of Rs 6174.9 crore 35 per cent up, as compared to Rs 5026 crore during the corresponding quarter. During the quarter it had an order intake of Rs 2695.4 crore as significant project orders were won from power utilities and core industry sector, while standard products once again saw robust growth, he added.

The MD said ABB had upgraded its production and testing facilities to manufacture 765 KV power transformers locally. It had commissioned its new small power transformer manufacturing facility in Vadodara, which will manufacture smaller 170 kV transformers, he added.

UNI