The Hindu : Business : ABB Q2 net surges

Online edition of India's National Newspaper
Tuesday, Jul 25, 2006

Business

Business

ABB Q2 net surges

Special Correspondent

BANGALORE: Power and automation technology major ABB said on Monday that the net profit from its Indian operations surged by 65 per cent to Rs. 71.90 crore for the second quarter (April-June) of the current fiscal from Rs. 43.60 crore in the same period a year earlier.

The revenues climbed up by 47 per cent to Rs. 989.50 crore from Rs. 673 crore. The company booked orders worth Rs. 1,451 crore during the quarter, an increase of 55 per cent.

Best quarter

"This has been one of the best quarters in terms of growth and revenues. ABB is making steady progress on its charted growth course. At the same time, we continue to increase our productivity, strengthen our resource base, sharpen delivery systems and continue to remain focused on operational efficiencies,'' Ravi Uppal, Vice-Chairman and Managing Director, ABB India, told reporters here on Monday, while announcing the second quarter results.

Mr. Uppal said that higher revenues came from increase in order intake, conversion of order backlog and higher volumes of standard products and service business. Mr. Uppal said ABB would increase its planned investment in India beyond the Rs. 500 crore it had announced in 2004.

Printer friendly page
Send this article to Friends by E-Mail

Business