ABB India net profit rises 5% to Rs 54.29 crore in March qtr

Power and automation technologies firm ABB India today reported five per cent jump in its net profit at Rs 54.29 crore for the quarter ended March 2015.
The company had posted a net profit of Rs 51.68 crore in the corresponding period last year.
The firm's total income from operations during the quarter decreased to Rs 1,814.57 crore, from Rs 1,827.71 crore in the same quarter of 2014.
Benefits of consistent investment in operational excellence initiatives, continued focus on indigenization and balancing risk return profile helped sustain profitability, ABB India said in a statement.
"Over the last few years, ABB India has been tenaciously working towards making its offerings and operations resilient and future-ready.

This has been reflected in the consistent range-bound margin expansion in a challenging market environment," said Bazmi Husain, Managing Director, ABB India.

He added: "We are in a strong position to deliver once the market revives and investments in late cycle industries follow."
The company received orders worth Rs 1,856 crore during the period. The current order backlog stands at Rs 7,973 crore as on March 31, 2015.
Shares of the company closed 1.61 per cent up at Rs 1,399.85 per scrip on the BSE.