ABB India Q1 net up 3.2% at 88.17 cr

ABB India today posted 3.2 rise in net profit at Rs 88.17 crore for the March quarter this year.
The company, which follows January-December period as its financial year, had posted net profit was Rs 85.45 crore in the year-ago quarter.
ABB India said in a BSE filing that its total income was Rs 2,337.36 crore in the first quarter this year, up from Rs 2,138.53 in the January-March period of 2016.
The company posted a significant year-on-year increase in orders booked, driven by government initiatives and investments.
It said that uncertain global market notwithstanding, sustained engagement in export markets have resulted in major order uptrend.

Intensive focus on installed base with value offerings also contributed to robust growth in service orders in the first quarter.

The orders received for the quarter (January-March) were worth Rs 2,342 crore. There was an order backlog of Rs 12,023 crore as on March 31, 2017, which provides solid visibility for future revenue, it said.
ABB India CEO and MD Sanjeev Sharma said energy and fourth industrial revolution are transforming grids, homes and shop-floors along with government initiatives of smart power for all and Make in India.
"From electric vehicles to clean energy, smart factories -- we are witnessing digital green-shoots across sectors and are totally focused and energised to drive the transformation with our customers and the recently launched ABB AbilityTM digital portfolio," he added.

Sharma said that at a time when customers are expressing interest in digitalisation, "we are very excited to lead the next level of digital growth in the country with our industry leading portfolio of 180 solutions in ABB Ability".
ABB is a global player in electrification products, robotics and motion, industrial automation and power grids.