"The company has posted a net profit of Rs 81.06 crore for the quarter ended September 30, 2016 as compared to Rs 58.74 crore for the quarter ended September 30, 2015," ABB India Ltd said in a BSE filing today.
According to a statement, total income increased from Rs 1,969.49 crore for the quarter ended September 30, 2015 to Rs 2,091.57 crore for the quarter ended September 30, 2016.
The company said that it received orders worth Rs 2,967 crore in the third quarter of 2016 (July-September).
The company said that as consolidation continues in the industry sector, utilities remained cautious and mostly continued with upgradation of technology through dry type transformers, gas insulated switchgears and substation packages.
More From This Section
The company's relatively strong order backlog of Rs 8,676 crore as of September 30, 2016 provides visibility to future revenues.
The third quarter (July-September) revenue was reported at Rs 2,055 crore. Service and exports revenue continue to be strong as customers focused on efficiency and productivity of existing operations. The company is well positioned with a solid execution and conversion of a robust order backlog, it said.
"The government's push for infrastructure and transportation has had positive incremental opportunities for companies. Automation and digitalization will be the key in the new era of the energy and fourth industrial revolution. 'ABB Ability' the new digitalization initiative coupled with path-breaking technology partnerships will be instrumental in providing an eco-system of connected devices, and intelligent systems to deliver the next level of customer experience and productivity," he added.
ABB is a technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. ABB operates in more than 100 countries with about 135,000 employees.