Engineering major ABB has recorded a 34% increase in net profit at Rs 180.80 crore for the quarter ended December 2007 when compared with Rs 135 crore in the corresponding quarter last year.
The higher net profit was primarily due to higher orders of Rs 2,003.30 crore the company received during the quarter when compared with Rs 1,412.60 crore that it executed in the last corresponding quarter. Revenue during the quarter at Rs 1,864.80 crore was up 32% from Rs 1,443.70 crore in the year-ago period.
Earning per share during the quarter was Rs 8.53 when compared with Rs 6.37 in the same quarter of the last financial year.
"The market is looking good and a lot of activity is going on. I see no reason why growth will slow down," said Biplab Majumder, managing director, ABB India.
The company, in which the Zurich-based ABB group holds 52.1% stake, has lined up a capital expenditure of $100 million over the next two years. The company has spent a similar amount in the last two years.
For the full year ended December 2007, the company recored a 44% growth in net profit at Rs 491.60 crore when compared with Rs 340.3 crore in the previous financial year. Revenue for the year was up 38% to Rs 6,001.4 crore from Rs 4,347.7 crore in the previous year.
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