Enhanced cash performance backed with savings on interest costs has boosted ABB India Ltd’s profit by 34.76 per cent to ₹77.42 crore for the second quarter (Q2) this calendar year (2016) as against ₹57.45 crore during the same period last year.

Total income from operations during Q2 has also risen by 8.79 per cent at ₹2,101.52 crore against ₹1,931.62 crore recorded last year. EPS (basic) stood at ₹3.65 (₹2.71).

Commenting on the company’s performance, Sanjeev Sharma, CEO and Managing Director, said: “Higher revenue and a better cash position was the result of higher volume of technology driven short cycle orders, the relentless pursuit of cash and the continued focus on time delivery of opportunities and streamlined operations.”

“We have registered a consistent performance of profitable growth. Our deeper engagement with the customer coupled with broad ABB technology portfolio is a key enabler in converting market challenges into opportunities,” he added.

The company received orders worth ₹2,040 crore in Q2 this year.

Sharma said: “The momentum was maintained by growth in base orders supported by service. Efficiency and technology driven upgrades by utilities such as the adoption of gas insulated switchgears was a major contributor to the order book.”

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