ABB posts Rs 48 crore profit for Jan-Mar quarter

NEW DELHI: Power and automation technology major ABB Ltd today reported a net profit of Rs 48 crore for the three months ended March 31, 2012.

The company had posted a net profit of Rs 59 crore during the corresponding period, in 2011, ABB informed the BSE.

The company reported net sales of Rs 1,773.04 crore during the three months ended March 31, 2012, as against Rs 1,781.30 crore in the corresponding period in the previous year, it said.

The revenues from the company's power products rose four per cent at Rs 458.02 crore, compared to Rs 439.97 crore in the three months ended March 31,2011.

The company recently commissioned three sub-stations for Power Grid Corporation ( PGCIL) with one each in Maharashtra, Madhya Pradesh and Chhattisgarh.

The scope of the project, executed on a turnkey basis, comprised design, engineering, manufacturing, testing, erection and commissioning of switch-yards, including civil work.

Shares of ABB closed at Rs 746.95, down 1.50 per cent from previous close, on BSE.