ABB Limited India reported an increase of 29 % in revenues and orders by 23 % for the Q3 of 2011. The company reported a net profit of INR 222 million, for the third quarter ended September 30, 2011 compared to INR 115 million over the same period last year. Healthy orders from core sectors helped drive order book position for the third consecutive quarter.

Orders
The company received orders worth INR 24,926 million during the quarter ended September 30th 2011, compared with an order intake of INR 20,321 million for the same period last year. The company’s orders also grew on account of large orders from core industries like steel, pulp and paper as well as power industry. The company also expects to benefit from significant opportunities in large projects that are awaiting procedural clearances.

Order backlog
The company’s order backlog stood at INR 91,513 million as of the end of September 2011 as against INR 91,781 million at the end of September 2010. With this strong order backlog, the revenues of the company for the coming quarters remain secured.

Revenue and operations
The revenue for the third quarter ending September 2011 was INR 17,263 million compared to INR 13,340 million showing a growth of 29% over the same quarter last year. The combined revenues for the power businesses as well as automation businesses grew substantially in the third quarter.

Net profit
The company posted a PBT of INR 371 million for the quarter ended September 2011 against INR 208 million in the same quarter last year. The company posted a PAT of INR 222 million for the quarter against 115 MINR compared to the last year. The company has concerns over rising interest rates and slowing industrial growth.

Mr Bazmi Husain country manager and MD of ABB Ltd said that “The ABB Group has a long term view and confidence in the potential of the Indian economy. What is important beyond these numbers is the degree of indigenization we are bringing in to India. The most recent being the Safelink Ring Main Unit that serves the urban and semi-urban power distribution market in India and other global markets. This product has been designed and manufactured at our Nashik facility, making it one of the most competitive products in the industry. The company is increasingly leveraging its local R&D presence for design optimisation of its global product portfolio as well as help support technological development at the group level.”

The company is also heavily focusing on the quality of its operations through various initiatives like productivity enhancement, world class project management, supply chain management and organization vitality.”