ABB India reported results for the first quarter ended March 31, 2017, posting consistent growth in its order book. In Q1 FY2017, ABB India posted a significant Y-o-Y increase in orders booked at Rs 2,342 crore and an order backlog of Rs 12,023 crore, as on March 31, 2017. Driven by GoI’s initiatives and investments, like due to the continued focus on 24x7 reliable Power to All, state utilities digitalised parts of their networks and upgraded systems extending to various remote locations.
ABB India’s revenue in Q1 grew Y-o-Y to Rs 2,169 crore, wherein sector specific demand revival and an easing in customer payment options have added to this growth. Profit before tax (PBT) increased to Rs 131 crore and PAT to Rs 88 crore in the quarter ended March 31, 2017 with the adoption of the new accounting standards from this quarter. Stated Sanjeev Sharma, CEO and Managing Director, ABB India, “Our determined execution and putting customers at the heart of our technology solutions have ensured that we continue to grow in a mixed market. These are exciting times to be in business with the energy and fourth industrial revolution transforming our grids, homes and shop-floors with government initiatives of smart power for all and make in India.”
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