ABB Ltd, India has posted Rs 59.54 crore profits in the first quarter of 2011 against Rs 8.30 crore registered in the corresponding period last year.
The company's revenues were up 22.35 per cent at Rs 1,781.3 crore against Rs 1,455.8 crore registered last year.
Commenting on the company's performance, Mr Bazmi Hussain, Country Manager and Managing Director, ABB Ltd India, said “Execution of strong order backlog combined with higher sales of short cycle products and services contributed to the performance.”
The company at the end of March 31, 2011, received orders worth Rs 1,695.10 crore compared with an order intake of Rs 1,688.7 crore for the same period. As for the company's order backlog, it stood at Rs 8,329.10 crore in the first quarter (order backlog at the end of December 2010 was Rs 8,436.20 crore).