ABB India recorded 21.3% growth in net profit for the April-June quarter in 2008 at Rs 131.8 crore, as compared to Rs 108.6 crore for the corresponding quarter a year ago. The company’s revenue during the period rose 15.68% at Rs 1637.6 crore for the quarter, from Rs 1415.6 crore for a year-ago period, the company said. During the second quarter, ABB bagged orders worth Rs 2208.6 crore, up 11% from orders of Rs 1996.3 crore bagged during a year- ago period. Order backlog at the end of the period was worth Rs 6776.9 crore, up 46% from Rs 4636.2 crore a year ago.
ABB India managing director Biplab Majumder said that the combined impact of double-digit inflation, rising energy costs and volatile commodity markets were challenging for the company. The business from large projects were 50%, while products contributed 40% to its revenue and 10% of its business was from miscellaneous services.