ABB India Ltd has posted a 34.90 per cent increase in net profit at Rs 75.06 crore for the second quarter (Q2) of the calendar year 2017 against Rs 55.64 crore during the same period last year.
The company’s total income from operations during Q2 has also gone up by 6.11 per cent to Rs 2,394.08 crore from Rs 2,256.14 crore recorded last year. EPS (basic) stood at Rs 3.54 (Rs 2.63).
Total expenses increased to Rs 2,275.5 crore from Rs 2,168 crore in the year-ago period.
Lean management, relentless pursuit of cash over revenue, and similar initiatives as part of operational excellence yielded savings and superior cash position, the company said.
“ABB India Ltd delivered another quarter of all-round growth at a time of multiple transitions. Advanced preparation with a robust team ensured we are well prepared to manage positive yet disruptive structural changes in India’s ecosystem,” the company Managing Director, Sanjeev Sharma, said.
Large orders remained muted in the wake of the tax restructuring, he said.
ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport and infrastructure globally.
It operates in more than 100 countries with about 1,32,000 employees.