Thursday, April 14 2005 17:45 Hrs (IST) - World Time -

Bangalore: Power equipment major ABB India today (Apr 14, 2005) posted a 63 per cent jump in first quarter net profits at Rs 27.5 crore over Rs 16.9 crore reported between January and March 2004.

The Bangalore-based ABB posted revenues of Rs 619.6 crore in the first quarter, an increase of 67 per cent over Rs 593.5 crore in the same period last year, a company statement said.

ABB received orders of Rs 894 crores, as against Rs 593.5 crores in the same period last year.

"Significant orders were received from power utilities, especially for distribution products and solutions as well as from leading customers for automation and building solutions," it said.

"As we continue our top-line growth, we will remain focused on productivity improvement and operational inefficiencies, in order to ensure that this growth is profitable and sustainable," ABB India vice chairman Ravi Uppal said.

ABB's order backlog stood at Rs 1,583.8 crore as compared to Rs 1,335.6 crore at the beginning of the year.

"This is expected to reflect in higher revenues during the coming quarters," it said.