ABB India Q4 net up 42% at Rs 84 cr, reports 50% order growth

Revenue growth was muted and the company registered a mere 1.5% growth at Rs 2,238 cr

Engineering major ABB India Ltd reported 42% growth in net profit for December-end quarter on the back of better project execution and cost saving measures.

Profit grew to Rs 84 crore in Q4 2014 from Rs 59 crore in same period last year. Revenue growth was muted and the company registered a mere 1.5% growth  in revenue to Rs 2,238 crores but order inflow rose 50% to nearly Rs 2,500 crores in the quarter under review.

For the entire year (the company follows January-December calendar) orders rose 18% to Rs 7,908 crore from Rs 6,717 crores and growth came from a healthy mix of base and large orders from domestic and overseas markets.

"A year marked by strong execution and our resilient portfolio helped deliver a consistently improved performance in a demanding macro and industrial environment. We will continue to push our profitable growth initiatives, introduce new products to the market and offer state of the art technology solutions catering to the evolving customer needs,” said Bazmi Husain, Managing Director, ABB India Limited. “Our continued investment in optimization initiatives, facility expansion and technology leadership, positions us well for a market revival," he added.