September 07, 2008

ABB India Q3 net up by 41% YoY

Power and auto technologies major ABB India has posted a net profit of INR 115.70 crore during July to September 2007 quarter up by 41% YoY when compared July to September 2006 quarter, mainly due to higher revenue, operational efficiency, productivity improvement and cost management.

The order intake during the period has recorded at INR 1,668.30 crore up by 23% YoY. The revenue also went up by 27% YoY to INR 1,393.30 crore.

Mr Biplab Majumder country manager & MD of ABB India said that "The Indian economy continues to surge ahead with power sector investments and industrial growth gathering pace. Our order book is getting stronger, helped by core business growth as well as new revenue streams such as water and asset management. Capacity and range expansion is underway across businesses to enable us to address India's growing power and automation needs."

AB India's order backlog awaiting execution has touched INR 4,900 crore at the end of the third quarter.