ABB India Q2 net jumps 20% to Rs 57 crore

Power and automation technologies firm ABB India Ltd today reported a 20.47 per cent increase in net profit at Rs 57.45 crore for the second quarter ending June 30.

The company, which follows January to December period as its financial year, had reported net profit of Rs 47.69 crore in the corresponding period a year ago.

Its net sales in the quarter under review stood at Rs 1,906.47 crore, up 6.24 per cent compared with Rs 1,794.4 crore in the same period last year, ABB India said in a BSE filing.

ABB India Managing Director Bazmi Husain said: "We have delivered a steady performance in a market where investments are still to gather momentum. This is a result of our relentless efforts on execution and focus on customers and costs."

The company said it received orders worth Rs 1,895 crore during the reported quarter and the order backlog as on June 30, stood at Rs 7,956 crore.

During the quarter under review, ABB India's total expenses stood at Rs 1,819.08 crore compared with Rs 1,724.23 crore in the same quarter last year.

Shares of ABB India were trading at Rs 1,386.30 on BSE in the afternoon trade, down 1.14 per cent.