ABB India Q3 profit up 30% to Rs 58.74 crore on higher order inflow

ABB India Ltd reported third quarter profit growth of 30 per cent to Rs 58.74 crore on higher volumes, favourable exchange rates and improved efficiency.

Revenue grew marginally to Rs 1969.49 crore during the quarter. ABB, the India unit of Swedish automation giant, has posted a profit of Rs 44.98 crore on revenues of Rs 1846.02 crore in the third quarter last year.

ABB won orders worth Rs 2292 crore in the quarter taking its total order book to Rs 8275 crore in September. ABB India follows the January to December accounting calender.

"Notable projects in transmission, renewables and transportation offset the slowdown in traditional sectors. Order growth was marked by a few firsts like the marine generator and controlled start solutions for mining. Introducing and using such smart solutions to decouple growth from environmental impact in emerging markets is a core element in our Next Level strategy," the firm said in a statement.

"Continued confidence in the value addition of our portfolio of advanced and integrated solutions resulted in a good build-up of orders for the quarter," said Bazmi Husain, Managing Director, ABB India. "We will carefully optimize cost and cash in a market which continues to remain uncertain in its outlook, awaiting a broad-based recovery."