ABB Q1 net up 32

Asea Brown Boveri ABB has posted a 32 per cent increase in net profit at Rs 6.2 crore for Q1 ended March 31, as a result of increased revenues, compared to Rs 4.72 crore last fiscal. The company8217;s net sales, income from operations for the quarter under review stood at Rs 241.12 crore, higher than Rs 202.17 crore in the Q1 ended March 31, 2001, ABB MD Ravi Uppal said.

ABB booked orders valued at Rs 280.9 crore, showing an improvement of 25 per cent over Rs 225 crore in the same period last year. The order backlog stood at Rs 811.6 crore as compared to Rs 775 crore in the first quarter of 2001 and the company expects this to reflect in higher revenues in coming quarters. 8216;8216;Despite a sluggish economy and the ongoing industrial slowdown, ABB has received significant orders from utility and industrial customers,8217;8217; Uppal said.