ABB India’s profit rises after the first quarter 2014
India: ABB India announced yesterday that it had a satisfactory first quarter due to higher order intake of power transformers and substations.
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India: ABB India announced yesterday that it had a satisfactory first quarter due to higher order intake of power transformers and substations.
According to ABB India, solid execution and continuous cost optimisation helped to improve profitability.
During the first quarter 2014, ABB India received orders worth Rs 1982 crore ($ 330 million), compared to the orders of Rs 1540 crore ($ 256 million) for the same period last year, reports Business Standard. The large orders were for power transformers, substations, as well as medium voltage drives and traction converters. Order backlog remains strong at Rs 7876 crore ($ 1.3 billion) at the end of the quarter.
“We had a satisfactory first quarter despite an indecisive investment climate. A balanced portfolio of customer offerings and relentless execution has helped us deliver profitable growth. Our new and upgraded production facilities, coupled with cost efficient technologies will further strengthen our position as the market revives.” said Bazmi Husain, Managing Director, ABB India.
Source: Business Standard
Image: ABB
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