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ABB India has reported a 31 per cent increase in net profit for the first quarter of 2016 to ₹ 71 crore from ₹ 54 crore in the same quarter last year. The company follows the calendar year. The Indian subsidiary of the Swedish-Swiss group ABB, reported a 10.1 per cent growth in net revenue to ₹ 2,000 crore from ₹ 1,815 crore in the same quarter last year. The company said in a statement that it has received orders worth ₹ 1,830 crore in the first quarter of 2016. On Monday, the company’s share price closed 0.83 per cent higher on the BSE at ₹ 1,346.20.
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