Date:31/10/2006 URL: http://www.thehindubusinessline.com/2006/10/31/stories/2006103102140500.htm

Back ABB net rises 55%; order book rise 48%

Our Bureau

Rides on health order backlog, new revenue streams

Bangalore , Oct. 30

Higher business from new verticals and better market penetration has helped ABB to post a 55 per cent increase in net profit to Rs 82.1 crore while revenues rose 52 per cent to Rs 1,093.6 crore for the third quarter of 2006.

A press statement from the company said there was a 48 per cent increase in orders to Rs 1,358 crore during the quarter. "In addition to the conversion of a healthy order backlog, this (results) also reflects increased revenues from new revenue streams recently initiated," the statement said.

For the first nine months of the calendar year, there was an increase of 53 per cent in the order book, which in value terms increased to Rs 4,211 crore. "In line with our commitment towards profitable and sustainable growth, we shall continue to increase both the depth and breadth of our business. This will be driven by market penetration and increased volumes from the existing portfolio, as well as generation of new revenue streams," ABB India's Vice-Chairman and Managing Director, Mr Ravi Uppal, said.