ABB India Q1 net jumps 36%

The company has attributed this increase to uptake in volume growth, operational efficiencies and an ongoing focus on cost reduction. While the bottomline has moved up 36 per cent, it managed to keep expenditures under prudence, which grew by 14.9 per cent to 1,370 crore.

Profit before tax (PBT) also witnessed a 35 per cent rise to Rs 180 crore in the first quarter.

 

Revenues in the quarter increased by 17 per cent to Rs 1,553 crore. The company's growth has been boosted by an increase in the number of project orders it received from power utilities and core industry sectors.

The orders received by the company in the first quarter were worth Rs 2,695 crore, up 35 per cent. Conversion of order backlog has been cited as another reason for surge in revenues.

Biplab Majumder, country manager and managing director of ABB India, said, "The power sector is gaining momentum in terms of new capacity and augmentation across generation, transmission and distribution as well as improvements in grid efficiency. This apart, the industry focus on capacity enhancement as well as efficiency and productivity is driving demand for automation solutions."

The company also announced an increase in earnings per share to Rs 5.52 (Rs 4.09), registering a 35 per cent increase. On its capacity and range expansion programmes, it has upgraded its production and testing facilities to manufacture 765 kv power transformers and has commissioned its small power transformer manufacturing facility at Vadodara.