Bangalore, 24th October, 2008
- Cumulative nine months Orders up 20 per cent ; Revenues up 15 per cent
- Q3 Orders up 13 per cent ; Revenues up 12 per cent
The statutory results are attached – comparison of business is as follows:
 | Q3 2008 | Q3 2007 | % Change | Cumulative Q3 2008 | Cumulative Q3 2007 | % Change |
| Orders | 18,891 | 16,683 | 13% | 67,931 | 56,649 | 20% |
| Revenues | 15,590 | 13,933 | 12% | 47,504 | 41,366 | 15% |
| Profit Before Tax | 1,588 | 1,787 | (11)% | 5,408 | 4,810 | 12% |
| Profit after tax | 1,048 | 1,157 | (9)% | 3,543 | 3,109 | 14% |
Figs. in Rs. Million unless stated otherwise
Revenues
ABB India maintained its revenue growth momentum with cumulative revenues of 47504 MINR for the nine months ending September 2008, 15 per cent higher than the same period last year. Third quarter revenues at 15590 MINR registered a 12 per cent increase over 2007 Q3.
“We remain optimistic about the growth of the economy and feel new capacity addition in power and industry will continue. However, we feel a temporary slow down maybe here for a while and industry and government will have to work together to see it through. Our ongoing expansion plan of adding capacities in the existing product lines and introducing new products in the existing range will add to the overall growth in the coming quarters,” said Biplab Majumder, Managing Director, ABB India, commenting on the results.
Orders
Cumulative order intake for the nine month period ending September 2008 rose to 67931 MINR, an increase of 20 per cent over the same period in the previous year as the Company continued to strengthen its order book. The order intake during the third quarter was 18891 MINR, 13 per cent higher than 2007 Q3. The company received several significant orders during the quarter, including successes in new revenue streams.
Net Profit
The company continued to see its growth momentum with a Net profit after tax for the nine months ended September 2008 of 3543 MINR compared with 3109 MINR during the same period last year, registering a growth of 14 per cent. Profit after tax of 1048 MINR for the third quarter of 2008 was
9 per cent lower compared with 1157 MINR in 2007 Q3, which is primarily due to revenue composition and nature of orders executed during the quarter.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 115,000 people.