Moneycontrol Bureau
ABB India, a leader in power and automation technologies, said profit in Q4 increased 13.4 percent year-on-year to Rs 146.8 crore driven by value added offerings and continued focus on cash & cost.
"Focus on operational excellence with consistent work on cost and cash has ended the year with solid results," said Sanjeev Sharma, CEO and Managing Director.
Revenue during the quarter rose 2.7 percent to Rs 2,491.5 crore compared with Rs 2,425.1 crore in year-ago quarter.
"In line with the government’s make in India initiative, the company has been consistently investing to deepen footprint in the country, innovating and deploying global technology for domestic and international markets," ABB said.The company follows January-December as its financial year.
Operating profit grew by 7.1 percent year-on-year to Rs 281.9 crore and margin expanded by 50 basis points to 11.3 percent in the quarter gone by.
The full year order book surged to Rs 12,466 crore while orders received for the quarter ending December 2016 was at a high of Rs 5,628 crore.
An order backlog of Rs 11,821 crore, as on December 31, 2016, provides solid visibility for future revenue and profitable growth.
At 15:05 hours IST, the stock was quoting at Rs 1,225.10, up Rs 16.75, or 1.39 percent on the BSE.
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