ABB India, a power and automation technologies provider, has posted a close to 7 per cent growth in its fourth quarter net profit to Rs 193 crore as compared to the corresponding quarter of the previous year. The topline has moved up close to 19 per cent to Rs 2217 crore for the fourth quarter. The profit before tax grew by 6.2 per cent to Rs 292 crore.
The order intake has contracted by a significant 37 per cent to Rs 1261 crore. ABB India has added that the order backlog is at Rs 6161 crore and it provides a significant visibility for the coming quarters.
The company has said that they have not experienced the brunt of global slowdown as they are by and large reliant on domestic consumption for growth. "However, we will certainly witness demand rationalisation in the short term," a company official detailed.
