Bangalore: ABB India today (Oct 30) reported a 21 per cent rise in net profit at Rs 20.8 crore for Q3 (July-September 2003) compared with the corresponding period of the previous year, on the back of increased revenues and enhanced operational efficiencies.

Revenues for the quarter increased by 23 per cent to Rs 345.6 crore, the power and automation technologies major said in a statement.

The company said cumulative revenues of Rs 973.8 crore for nine months ended September 2003, were in line with its growth trend, 19.4 per cent higher than the same period last year.

It booked orders worth Rs 1249.3 crore during January-September 2003, registering an increase of 34 per cent over the first nine months of last year.

"Our strategic focus on exports, standard products and services is helping us maintain our profitable growth trend", Vice-Chairman and Managing Director of ABB India, Ravi Uppal, said.

Improved industrial activity and implementation of power distribution reforms are encouraging market signs for the future, he added.

PTI