ABB Q3 net soars 73%

BS 200 SCORECARD

ABB Ltd, the power and automation technology company, has posted a net profit of Rs 36 crore for the quarter ended September 30, 2004, up 73 per cent from Rs 20.84 crore in the corresponding previous quarter. Revenues in the quarter have grown 67 per cent to Rs 575.5 crore (Rs 345.63 crore). The company's power technology segment has contributed Rs 342.43 crore to its revenues for the quarter and its automation technology segment accounts for Rs 232.14 crore.

In the corresponding previous quarter, the segments power and automation technology segments contributed Rs 212.76 crore and Rs 131.06 crore, respectively.

The company is quoting an earnings per share (before exceptional item) of Rs 7.59 and after exceptional item of Rs 8.49. Net profit for the nine months ended September 2004 was Rs 83.5 crore as against Rs 74.8 crore in the previous corresponding period.

This year's figure includes a Rs 3.8 crore realisation from the sale of the control valves business while previous year's result included a profit of Rs 23.3 crore from the divestment of the metering business. Revenues of Rs 1,543.4 crore for the nine month period were 58 per cent higher than the same period last year.