ABB Power Products wins Rs 160 cr order from Indian Railways

ABB Power Products and Systems India on Wednesday said it has won orders worth Rs 160 crore from the Chittaranjan Locomotive Works (CLW) and the Central Organization for Rail Electrification (CORE).

Hitachi ABB Power Grids (listed as ABB Power Products and Systems India on stock exchanges) will deliver trackside transformers rated 132 kV (kilovolt) to CORE and traction transformers rated 25 kV to CLW. The trackside transformers reduce power voltage from the utility power network to a suitable level before feeding it to the railway catenary conductors. Traction transformers route power from the catenary for essential train functions such as traction, lighting, ventilation, braking, signaling and communication.

"These orders are a source of immense pride for us at Hitachi ABB Power Grids. They advance our vision of playing a pivotal role in rail electrification in India and enabling improvements in rail safety, capacity and speed," said N Venu, CEO and MD of Hitachi ABB Power Grids in India. "Such partnerships will help lower our dependence on imported fossil fuel and reduce both fuel costs and carbon emissions for the Indian Railways," he added.

Shares of ABB Power Products were down 0.6% at Rs 1369.25 on BSE. ABB Power Products and Systems is a global leader and pioneer in power technologies. It serves utility, industry and infrastructure customers across the value chain, and emerging areas such as sustainable mobility, smart cities, energy storage and data centers.

The company reported a 54.9% jump in net profit to Rs 54.96 crore on 6.90% decline in total revenue from operations to Rs 1,043.7 crore in Q4 December 2020 over Q4 December 2019.

Powered by Capital Market - Live News