ABB India Posts 25 Per Cent Jump in Q3 Profit

Mumbai: ABA India Ltd on Tuesday reported a 25 per cent jump in net profit at Rs 45 crore for the third quarter ended September 2014.

The power and automation technologies firm had registered a net profit of Rs 36 crore for the corresponding period a year ago.

Revenues improved 3.3 per cent to Rs 1,845 crore in the period under review from Rs 1,786 crore last year. Revenues grew across all divisions and exports continued to remain in focus.

The company maintained healthy growth in earnings for the quarter demonstrating benefits from improved execution, better productivity and continued savings from operational excellence initiatives.

Profit before tax (PBT) stood at Rs 69 crore and profit after tax (PAT) was Rs 45 crore for the quarter, a company statement in Mumbai said.

The company received orders worth Rs 1,421 crore for the quarter ending September 30, down from Rs 1,762 crore for the same period in 2013. Order intake remained subdued as few large orders were awarded and some are awaiting contract closure.

The company's order backlog stood at Rs 7,666 crore at the end of the quarter as compared to Rs 8,252 crore for the same period last year.

"We hope the positive sentiments will transform into on-ground reality soon. Meanwhile, we continue to push hard on our growth initiatives while we drive our relentless execution and further step up the momentum on cost savings. ABB in India is well positioned to cater to the next level of growth, continuing to create value for our customers and stakeholders," ABB India managing director Bazmi Husain said.