International Development News
Development News Edition

ABB India posts 30 per cent rise in profit at Rs 108.34 crore

Its net profit for the July-September quarter was Rs 108.34 crore, against Rs 83.39 crore reported during the corresponding period last year, the company showed in a regulatory filing to the BSE.


ABB India posts 30 per cent rise in profit at Rs 108.34 crore
The company said that its board on Tuesday decided to discontinue its EPC (Engineering, Procurement and Construction) substation business in a bid to improve margins and lower high-risk businesses. (Image Credit: Twitter)

Diversified industrial technology major ABB India on Tuesday reported a nearly 30 per cent rise in its net profit for the quarter ended September on a year-on-year basis.

Its net profit for the July-September quarter was Rs 108.34 crore, against Rs 83.39 crore reported during the corresponding period last year, the company showed in a regulatory filing to the BSE.

The company which follows the calendar year for its financial results, reported a total income of Rs 2,543.85 crore during the third quarter of 2018, 29.71 per cent higher than Rs 1,961.15 crore earned in the same period last year.

The total revenue from operations rose 30.77 per cent to Rs 2,515.36 crore during the quarter. During the July-September quarter last year, revenue from operations stood at Rs 1,923.40 crore.

The company said that its board on Tuesday decided to discontinue its EPC (Engineering, Procurement and Construction) substation business in a bid to improve margins and lower high-risk businesses.

"The Board of Directors of the company have approved the proposal to discontinue EPC Substation Business hitherto carried out by the company as a strategy to focus more on technology-based value-added business offerings thereby improving margin and lowering high-risk businesses," the statement said.

The company would, however, continue to be in the system integration business which is a core ABB portfolio, it added.

(With inputs from agencies.)


TRENDING

OPINION/BLOG/INTERVIEW

No lessons learnt, Delhi again facing haze and hazardous Air pollution

While the parliamentarians in the Rajya Sabha Upper House were engaged in allegations and counter allegations on Thursday, the pollution was rising outside which soon took the form of a haze....

How to turn the aging population productive, ADB shows the path

Mature and older workers are not necessarily unproductive, and they may perform continuously well in certain types of work, but their productivity in others may naturally decline. In addition, the scarcity of young-to-middle-aged workers co...

How music can help expectant mothers during pregnancy

Music provides pleasant ambience for all but its more important for expectant mothers as besides ensuring pleasant environment for them it also directly and indirectly influences the unborn babies. There are various scientific findings to c...

EdTech: A technical approach to flexible and cost-effective education

Its hight time for the world to go for innovative approaches like e-learning over traditional learning methods that need physical infrastructure, long-term planning, and huge investment. ...

Videos

Latest News

Steelers WR Smith-Schuster ruled out vs. Bengals

Pittsburgh Steelers wide receiver JuJu Smith-Schuster will not play in Sundays game against the Cincinnati Bengals after sustaining a concussion in last Thursdays contest against the Cleveland Browns. The third-year wide receiver, who turne...

UPDATE 2-Athletics-Russia reinstatement process suspended over AIU charges

The global governing body of athletics on Friday suspended the reinstatement process for Russia pending the resolution of charges imposed on its athletics federation for violating anti-doping rules, dealing a blow to the countrys Olympic ho...

UPDATE 2-UK Labour leader Corbyn: I would stay neutral in a second Brexit referendum

The leader of Britains opposition Labour Party, Jeremy Corbyn, said on Friday he would remain neutral in any second Brexit referendum, so he could credibly carry out the result of the vote and unite the country.Corbyn is vying to become pri...

UPDATE 1-Pennsylvania court sustains prison sentence of child sex abuser Jerry Sandusky

A Pennsylvania judge on Friday sustained the 30-to-60-year prison sentence that former Penn State football coach Jerry Sandusky received after his 2012 conviction for sexually assaulting teenage boys. Visiting Judge Maureen Skerda resentenc...

Give Feedback