The Hindu : Business : ABB first half net up 28 %

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Saturday, Jul 26, 2008
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ABB first half net up 28 %

Special Correspondent

BANGALORE: ABB India, with Rs. 4,904 crore in orders garnered in the first half of this year (January-June), reported a 16 per cent growth in revenues at Rs. 3,191.40 crore and a 28 per cent rise in net profit at Rs. 249.50 crore, as compared to the same period in the previous fiscal.

ABB India’s Chairman Ravi Uppal said, the company had supplied equipment for many of the older nuclear energy plants in India and was prepared to take on new orders “if the requirements are within our product range”. Renewable energy generation, especially wind energy, was an area ABB was seriously involved in now, besides robotics equipment for the automobile sector, he said.

“The second quarter (ended June 30) brought the company Rs. 385 crore worth orders, mostly exports to the Middle East and Indonesia for power plant equipment,” ABB India Managing Director, Biplab Majumdar, told reporters here on Friday. Orders for industrial automation and capacity addition by power utilities also grew business.

“The combined effects of inflation, higher energy costs, volatile markets and interest rates are a challenge. But, long-term growth prospects will not be affected.

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