- Orders and revenues remain steady in a challenging market scenario
- Continued focus on operational excellence results in improvement of operating margins excluding adverse impact of forex
ABB Limited, India, maintained its order and revenue volumes for the first quarter ended March 31, 2012. The company’s diverse business portfolio and various initiatives help improve the performance in a challenging market environment.
| Q1 2012|| Q1 2011|
| Profit before tax (excluding forex impact)||105||85|
| Profit before tax||72||88|
| Profit after tax||48||59|
Figures. in Rs. crores
The company received orders worth Rs. 1,632 crores during the quarter ended March 31, 2012, compared with an order intake of Rs. 1,695 crores for the same period last year. While the businesses relating to power sector continued to grow, those dependant on systems business from the industry were impacted due to poor market sentiments primarily driven by over capacities and high cost of capital.
The company’s order backlog stood at Rs. 9,028 crores at the end of March 31, 2012 as against Rs. 8,329 crores for the corresponding period in 2011. With this strong order backlog, the revenues of the company for the coming quarters remain secured.
Revenue and operations
The revenue for the first quarter ended March 31, 2012 was Rs.1,773 crores compared to Rs.1,781 crores for the corresponding period in 2011. Company continued to focus on operational excellence, supply chain management, project management and engineering to improve its competitiveness.
The company posted a PBT of Rs 72 crores for the quarter ended March 31, 2012 against Rs. 88 crores in the same quarter last year. The PAT stood at Rs. 48 crores for the current quarter against Rs. 59 crores in the last year same period. The earnings were adversely impacted by the volatility in forex in the current quarter. The forex loss for the quarter ended 31st
March 2012 was Rs. 33 Crores against a forex gain of Rs. 3 Crores for the same period last year.
“Some of our initiatives including operational excellence have helped to bring significant improvements in the current tough market scenario. We continue to maintain a positive outlook as we move forward with our investment plans for new manufacturing lines, enhance existing capacities, introduce new products and solutions through use of best in class engineering and R&D.” said Bazmi Husain, Country Manager and Managing Director of ABB Ltd.
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 135,000 people.
For more information please contact:
|Corporate Communications, ABB Ltd., India|
Vikram V Kanth
Tel : + 91 80 22280599
Fax :+ 91 80 22949148
email : firstname.lastname@example.org
|Media Relations Manager|
Tel: + 91 80 22949195
(M): +91 9972800477
Fax :+ 91 80 22949148
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