ABB India Q3 net profit up 30% to Rs 108.34 crore

Power equipment and automation major ABB India Tuesday posted a 29.91 per cent increase in net profit at Rs 108.34 crore for the third quarter ended September 2018.

The company, which follows January-December period as its financial year, had reported a net profit of Rs 83.39 crore during the same period last year.

ABB India said net profit growth was led by differentiated portfolio mix and digital value additions.

Total revenue from operations was up 30.77 per cent at Rs 2,515.36 as against Rs 1,923.4 crore in the corresponding period of 2017-18.

"The quarter witnessed double digit growth across divisions with quick conversions and timely delivery. Strong execution and delivery further stabilised solid net cash position supporting revenue momentum," the company said.

The company said total orders increased to Rs 2,355 crore during the third quarter of 2018, driven by a base order growth of 16 per cent.

The profitable growth was supported by base orders and the successful execution of our quality order backlog, ABB India Managing Director Sanjeev Sharma said.

"All divisions registered double digit growth benefitting from technology solutions for the local and international markets," he said.

Shares of ABB closed 1.92 per cent lower at Rs 1,209.25 apiece on the BSE.