ABB Limited’s profits have dropped by 23.69 per cent to Rs 140.94 crore on a consolidated basis for the fourth quarter (Q4) of this calendar (2012).
The company’s income from operations was marginally higher by 2.12 per cent at Rs 7,610.48 crore as compared to the same quarter last year. The EPS stood at Rs 6.65 as compared to Rs 8.72 recorded last year.
Commenting on the performance, Bazmi Husain, Managing Director of ABB Ltd, India said: “While short-term economic uncertainties cannot be ruled out, the company is cautiously optimistic about the long-term potential of the Indian market. We look forward to the Government’s reform initiatives to accelerate and revive the capital goods sector.”
The company received orders worth Rs 6,966 crore for the full year 2012 compared to Rs 8,189 crore in the previous year. To overcome the challenges arising out of weak investments in traditional markets, the company leveraged new business streams such as solar, data centres and energy efficiency solutions.