ABB India Q1 net surges 9-fold to Rs 59 crore

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ABB India, a leader in power and automated technology reported the financial report for the quarter ending March 2011.

Net sales from the operation stood at Rs. 1781.3 crore for Q1, FY"11 against Rs. 1455.85 crore for the same period in last fiscal year.

Net profit for Q1, FY"11 is reported to stand at Rs. 59.54 crore against Rs. 6.64 crore for the same period in last fiscal.

The net sales is highest ever reported, for any quarter, by the company on the back of execution of large pending orders.

The company order book showed a marginal increase from Rs. 1688.7 crore for last fiscal to Rs. 1695 crore for the fiscal ending March 2011. Order backlog of the company stood at Rs. 8329 crore for the fiscal ending March 2011.

The large backlog may offset slow increase in the capacity in electricity generation in India because of shortage of coal and other energy sources and regulatory issues.

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