ABB India's Q1 net profit up 3%

Industrial technology major ABB India on Monday reported an increase of 3.18 per cent in its net profit for the first quarter (Q1) of 2017.

According to the company, its net profit for Q1 increased to Rs 88.17 crore from Rs 85.45 crore reported for the corresponding period of 2016.

Besides, the firm's total income edged-up by 9.29 per cent during the quarter under review to Rs 2,337.36 crore from Rs 2,138.53 crore earned during Q1 of last year.

ABB India disclosed a significant y-o-y (Year-on-Year) increase in its orders book during the period under review, driven by government initiatives and investments.

The company revealed that it has received orders worth Rs 2,342 crore during the first quarter and had an order backlog of Rs 12,023 crore, as on March 31, 2017.

"We have continued to grow in a market of select sectoral growth with a keen focus on cash and cost with a view to deliver value-additions to our customers," said Sanjeev Sharma, CEO and Managing Director, ABB India.

"The traction in transportation and infrastructure has led to us to deliver multiple projects of national importance."

--IANS

rv/vm