- Business environment continues to show slow recovery
The company booked orders worth 44,149 MINR during the half-year ended June 2009, 10 percent lower compared with 2008 H1. The second quarter saw an order intake of 21,116 MINR, 4 percent lower than 2008 Q2. During the quarter, the company received significant orders for electrical equipment and solutions to enhance reliability in power generation, transmission and distribution.
“The market dynamics of the Indian economy are shifting. It is evident that public expenditure is greater than private investment. Improvement in the macroeconomic indicators and the expected growth in GDP are encouraging. The business outlook in most of the key sectors is turning positive again, although certain industrial segments continue to face challenges in driving demand,” said Biplab Majumder, Vice Chairman and Managing Director, ABB India, announcing the company’s second quarter and half yearly results. “The economy is entering the recovery phase now coupled with a stable government in place. We remain optimistic about the long term business prospect for ABB. However, it still remains to be seen how long before the stable phase of growth would return,” he added.
The strong order intake during the first two quarters of this year has helped strengthen the order backlog from 67769 MINR at the end of H1 2008 to 76,223 MINR at the end of June 2009, registering a 13 percent increase year-on-year.
The revenues for the half-year ending June 2009 reached 29,333 MINR, registering a 8 percent decline over the same period last year. The company’s net profit after tax for the half year ending 30th June 2009 was 1,620 MINR and for the second quarter of 2009 net profit after tax was at 836 MINR.
 | H1 2009 | H1 2008 | % chg | Q2 2009 | Q2 2008 | % chg |
| Orders | 44,149 | 49040 | (10) | 21,116 | 22086 | (4) |
| Order Backlog | 76,223 | 67769 | 13 | 76,223 | 67769 | 13 |
| Revenues | 29,333 | 31914 | (8) | 15,259 | 16376 | (7) |
| Profit before tax | 2,487 | 3820 | (35) | 1,284 | 2018 | (36) |
| Profit after tax | 1,620 | 2495 | (35) | 836 | 1318 | (37) |
Figs. in Rs. Million (MINR) unless stated otherwise
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people.
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