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Backed by increased value addition of product portfolio, ABB’s profits for third-quarter (Q3) of the calendar year 2015 is up by 30.59 per cent at ₹58.74 crore (last year ₹44.98 crore).
Revenues in Q3 is also up by 6.72 per cent at ₹1,968.97 crore (₹1,844.97 crore).
Bazmi Husain, Managing Director, commenting on the company’s Q3 performance said: “Continued confidence in the value addition of our portfolio of advanced and integrated solutions resulted in a good build-up of orders for the quarter.” He further said: “We will optimise cost and cash in a market which continues to remain uncertain in its outlook, awaiting a broad-based recovery.”
The company received orders worth ₹2,292 crore in the third quarter of 2015, compensating for the award postponement experienced in the last two quarters.
Continued focus on base orders resulted in healthy growth. In addition, large orders also grew significantly during the quarter. Notable projects in transmission, renewables and transportation offset the slowdown in traditional sectors. Order growth was marked by a few firsts like the marine generator and controlled start solutions for mining.
Husain said: “The order backlog stood at ₹8,275 crore as on September 30, 2015, providing visibility for future revenue.”
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