 "ABB India net rises 30% at Rs 58 crore")
The company had registered a net profit of Rs 44.98 crore for the corresponding quarter a year ago," ABB India said in a BSE filing today.
According to the statement, total income has increased to Rs 1,969.49 crore for the quarter under review as against Rs 1,846.02 crore in the year-ago period.
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The company said a combination of factors including higher volumes, favorable exchange rates and sustained efforts on operational excellence initiatives helped improve the profitability.
"Better value offering, enhanced localisation coupled with extensive customer outreach in new markets, remained the key drivers for improved revenue during the quarter. Disciplined execution and focused conversion of order backlog buffered headwinds of tight liquidity and excess capacity within industry," it further 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," said Bazmi Husain, Managing Director, ABB India.