ABB India posts 25 pc jump in net profit in Q3

ABA India Ltd, a leader in power and automation technologies, today reported a 25 per cent jump in net profit at Rs 45 crore for the third quarter ended September 2014 as against Rs 36 crore in the same period last year.
Revenues improved by 3.3 per cent at Rs 1,845 crore in the period under review over Rs 1,786 crore in the corresponding period last year. Revenues grew across all divisions and exports continued to remain in focus.
The company maintained a healthy growth in earnings for the quarter demonstrating benefits from improved execution, better productivity and continued savings from operational excellence initiatives.

Profit before tax (PBT) stood at Rs 69 crore and profit after tax (PAT) was Rs 45 crore for the quarter, a company statement said here.
The company received orders worth Rs 1,421 crore for the quarter ending September 30, down from Rs 1,762 crore for the same period in 2013. Order intake remained subdued as few large orders were awarded and some are awaiting contract closure.
The company's order backlog stood at Rs 7,666 crore at the end of the quarter as compared to Rs 8,252 crore for the same period last year.
"We hope the positive sentiments will transform into on-ground reality soon. Meanwhile, we continue to push hard on our growth initiatives while we drive our relentless execution and further step up the momentum on cost savings. ABB in India is well positioned to cater to the next level of growth, continuing to create value for our customers and stakeholders," ABB India Managing Director Bazmi Husain said.