ABB India Q4 net up 44% to Rs 70.8 cr

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ABB India has posted a hefty 44 per cent increase in net profit for its fourth quarter (Q4) ended December 31, 2004 to touch Rs 70.8 crore, against Rs 49.3 crore for the corresponding quarter of its previous year.

Revenues also registered a 44 per cent increase to reach Rs 762.2 crore for Q4 2004, against Rs 529.3 crore for Q4 2003. The company has declared a 70 per cent dividend for 2004, against a dividend of 60 per cent for 2003.

For the full year 2004, net profit for ABB India rose by 24 per cent to Rs 154.3 crore against Rs 124.2 crore during 2003. Revenues for the entire year were up 53 per cent to Rs 2,305. 6 crore, against Rs 1,503.1 crore for 2003.

The company registered a order intake of Rs 2,587.8 crore in 2004, a growth of 51 per cent over the previous year. In the fourth quarter, the company's order intake was Rs 682.9 crore, 50 per cent higher that Q4 2003. ABB India booked Rs 330 crore of export order during 2004, against Rs 290 crore during the previous year.

Ravi Uppal, vice chairman & MD, said: "We are encouraged by the growth of the company and our strategic focus on standard products, exports and services are yielding results. Capacity and range expansion is underway as we increase market penetration and continue with portfolio expansion. Our new revenue streams from recently launched businesses are already contributing to the company's growth."

On the outlook, he added that the country's macro economic fundamentals are encouraging and power sector reforms are gathering pace.