ABB announces Q3 net profit of Rs.82.14 Crores

ABB Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 821.432 million for the quarter ended September 30, 2006 as compared to Rs 529.448 million for the quarter ended September 30, 2005. Total Income has increased from Rs 7199.220 million for the quarter ended September 30, 2005 to Rs 10935.999 million for the quarter ended September 30, 2006.

"Power sector investments across the value chain are gathering pace, driven by generation capacity additions, transmission network augmentation, grid reliability and efficiency improvements. Industrial growth is also promising, both in terms of capacity additions and productivity enhancement initiatives, In line with our commitment towards profitable and sustainable growth, we shall continue to increase both the depth and breadth of our business. This will be driven by market penetration and increased volumes from the existing portfolio, as well as generation of new revenue streams said Ravi Uppal, Vice Chairman & Managing Director, of the Company, commenting on the results. "Our capacity and range expansion investment programme across products and locations continues on course, as we strengthen our leadership position and address the power and automation needs of a growing market", he added.

Source : Equity Bulls

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