Companies

ABB India profit up 20.64% in second quarter

Our Bureau Bangalore | Updated on July 23, 2014




Large orders have boosted ABB India’s profitability. The company for second-quarter (Q2) of calendar 2014 has recorded 20.64 per cent rise in profit at ₹47.69 crore against ₹39.53 crore during the same period last year.

Growth in profits was primarily led by focus on localisation, cost optimisation and striking the right balance of risks and returns.

Revenues for Q2 are up 4.05 per cent at ₹1,822.18 crore against ₹1,751.15 crore recorded last year. Revenues during the quarter remained stable with encouraging growth mainly from short cycle business. EPS (basic) stood at ₹2.25 against ₹1.87.

Commenting on the company’s performance, Bazmi Husain, Managing Director, said: “Another quarter led by a healthy contribution from base and large orders in a challenging business environment. At a time when market sentiments are positive, our intensified efforts ensured greater coverage, innovation and expanded scope of offerings to our customers.”

Order intake

The company received orders worth ₹2,019 crore during the quarter ended June 30, 2014, compared with an order intake of ₹1,749 crore for the same period last year.

Focus on short cycle orders have been supported by increase in large orders. Exports continued to grow at a faster pace, while emerging business streams also supported the growth momentum.

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Published on July 23, 2014
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