Power and automation major ABB India today posted a 36 per cent jump in its net profit at Rs 102.15 crore for the quarter ended June 30, mainly on the back of higher revenues.
The company had posted a net profit of Rs 75.06 crore in the corresponding period of 2017, it said in a BSE filing.
Total income in the quarter rose to Rs 2,736.28 crore from Rs 2,403.71 crore in the same period a year ago.
The company churned out maximum revenue from power grids segment at Rs 1,060.59 crore from Rs 751.34 crore a year earlier.
We have delivered solid performance in the quarter. Business fundamentals grew positively over the first half of the year. A robust order book and execution excellence combined with strategic product mix and robust cash management to deliver improved margins and a significant step-up in the bottom-line, ABB India Managing Director Sanjeev Sharma said.
The company's total orders increased to Rs 2,474 crore during the second quarter (April-June) of 2018, supported by base order growth, the company said, adding that export orders grew 68 percent year-on-year.
Service orders also grew in double digit terms, with broad-based growth across all divisions, it said.
Transportation was a growth driver in the quarter with a first of its kind integrated power and automation package order for ferries, and orders for drive propulsion systems for Indian Railways.
The company said the MoUs on advanced manufacturing and smart power distribution signed during the quarter will fast-track awareness and create different prototypes across segments for these emerging technologies.
The company's order backlog was Rs 10,717 crore as of June 30, 2018. The order book contains multiple contract wins, balanced between traditional sectors and emergent markets including smart cities, marine, railways, digitalisation, and food and beverage, it said.
ABB India remains a net debt-free entity, it added.
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