ABB India Ltd today posted a 38 per cent rise in profit at Rs 76 crore for the second quarter to June on the back of higher sales.
ABB India Ltd today posted a 38 per cent rise in profit at Rs 76 crore for the second quarter to June on the back of higher sales. Profit stood at Rs 55 crore in the same quarter of the previous fiscal, the company said in a filing to the BSE today. It follows January-December as its financial year.
Sales during the quarter came in at Rs 2,329.3 crore, registering an increase of 6 per cent. Total expenses increased to Rs 2,275.5 crore, from Rs 2,168 crore in the year-ago period. Lean management, relentless pursuit of cash over revenue, and similar initiatives as part of operational excellence yielded savings and superior cash position, it said.
“ABB India Ltd delivered another quarter of all-round growth at a time of multiple transitions. Advanced preparation with a robust team ensured we are well prepared to manage positive yet disruptive structural changes in India’s ecosystem,” Managing Director Sanjeev Sharma said. Large orders remained muted in the wake of the tax restructuring.
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. It operates in more than 100 countries with about 1,32,000 employees.