ABB Q2 net up 42%

ABB today posted a 42% increase in net profit at Rs 43.61 crore for the second quarter ended June 30, 2005 as against Rs 30.62 crore in Q2FY04.

According to a release issued by the company to the BSE today, total income increased to Rs 672.99 crore in Q2FY05 from Rs 527.18 crore in Q2FY04.

Ravi Uppal, vice chairman & managing director of ABB India, said: "Strong macro economic fundamentals, industrial pickup and significant work that still remains to be done with reference to the power sector continue to offer bright prospects for both our power and automation technologies businesses. ABB is well positioned to leverage market opportunities based on our intrinsic technology strengths and strong market presence. We will continue to build on our growth momentum as we move ahead."