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25 April, 2024 18:30 IST
ABB India quarterly net climbs 35%
Source: IRIS | 20 Jul, 2017, 03.51PM
Rating: NAN / 5 stars.
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Orders grew 13 percent in the second quarter and 20 percent in H1 of 2017 reflecting our organic growth strategy. Large orders remained muted as decisions on government initiatives and private investments were stalled in anticipation of upcoming tax restructure. Base orders were the key contributor with industry turning to improving operational efficiencies through technology and digital upgrades including robotics automation. ABB strengthened its own digital asset health management offering to support the transformation of the Indian industry-with the launch of its remote drives service center. Focus on 24x7 reliable Power to All resulted in continued focus on state utility infrastructure including a wider reach to remote locations while balancing burgeoning renewable input. Strategically leveraging the extensive installed base sustained strong growth in service orders. Export orders continued the uptrend in the year with a focus on power networks and industrial efficiency.
 
Orders received for the second quarter were Rs 23.01 billion. The highest ever order backlog of Rs 120.94 billion, as of June 30, 2017, provides solid visibility for future revenue.

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