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ABB India Q1 profit rises 14 pc to Rs 102 cr

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Press Trust of India New Delhi

ABB India today posted 13.9 per cent rise in profit to Rs 102.49 crore for the first quarter ended March of 2017-18.

The company had posted a profit of Rs 89.98 crore in the year-ago period.

The company's total income in the January-March quarter increased to Rs 2,552.39 crore from Rs 2,333.02 crore in the year-ago period.

ABB India follows calendar year as its financial year.

"We have started 2018 on a strong note. Significant uptrend in revenue, increased orders and profits reflect customers' preference for ABB's digital and innovative offerings and deep domain knowhow, supported by our expansive manufacturing and service footprint," Sanjeev Sharma, Managing Director, ABB India said in a statement.

 

"We will continue to collaborate with our customers, deploy solutions from our digital portfolio of ABB Ability and support the new era of growth in the country through smarter, greener grids, electrification of transport and digitalising industries for greater efficiency and productivity," he added.

Total orders of the company during the first quarter of 2018 rose 10 per cent year-on-year to Rs 2,582 crore.

The quarter posted the highest growth in orders for the Q1 period in the last five years.

ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport and infrastructure globally.

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First Published: May 08 2018 | 8:40 PM IST

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