ABB India has reported a 63 per cent increase in its net profit to Rs 27.5 crore for its first quarter ended March 31, 2005, as against Q1 of fiscal 2004. | |
| The company has attributed this growth to increase in revenues, productivity improvement and operational efficiencies. Earnings per share has gone up appreciably to Rs 6.49 from Rs 3.99 in Q1 of 2004. |
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| Revenues for the quarter was at Rs 619.6 crore, up 38 per cent, facilitated by conversion of a strong order backlog as well as higher order intake and increased standard products and service business. |
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| The company further strengthened its order backlog to Rs 1,583.8 crore compared with Rs 1,335.6 crore at the beginning of the year and Rs 1,166.3 crore as at Q1 of the previous fiscal. This is expected to reflect in higher revenues during the coming quarters. |
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| The company saw a record order intake of Rs 894 crore during the quarter ending March 31, 2005, registering a rise of 51 per cent over the previous comparable period. |
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| Significant orders were received from power utilities, especially for distribution products and solutions as well as from leading industry customers for automation and building solutions. |
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| The company's strategic focus on market penetration and range expansion continued to yield results with further improvement in the standard products and channel business. |
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| Said Ravi Uppal, vice-chairman and MD, ABB India, "We continue to leverage our technology strengths to deliver enhanced productivity and efficiency to utility and industry customers through projects, products and service solutions. Ongoing activity in the power sector as well as resurgence of several core industries, present a positive market environment and the company is well positioned to build on its strong foundation and leverage both domestic as well as global market opportunities. As we continue our top-line growth, we will remain focused on productivity improvement and operational efficiencies, in order to ensure that this growth is profitable and sustainable." |
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