ABB India September quarter net profit surges 18% to Rs 83 cr

The company said their net profit was Rs 70.57 cr in the same quarter last fiscal

ABB India on Tuesday reported an 18.16 per cent jump in its net profit to Rs 83.39 crore in the quarter ended September 30.

The company's net profit was Rs 70.57 crore in the same quarter last fiscal, ABB India Ltd said in a BSE filing.

The company said the unaudited results for the quarter ended September 30, 2017 was approved by its board in a meeting held today.

According to the statement, the company's total revenue from operations declined to Rs 1,915.37 crore in the quarter from Rs 2,197.64 crore in same period last year.

The company follows financial year from January-December fiscal format. Its net profit for January to September period this year stood at Rs 248.43 crore up from 211.66 crore year ago. The company's profit in 2016 fiscal ended on December 31 was Rs 374.47 crore.

It said its total revenue from operations stood at Rs 6,593.16 crore in the nine month period ending September 30, 2017, up from Rs 6,547.49 crore last year.

ABB is a technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.