ABB India Ltd announces Q3 results
ABB India Limited, reported results for the third quarter ended September 30, 2015.
* Operational EBITDA: Earnings before interest and taxes (EBIT) excluding depreciation and amortization, adjusted for i) unrealized gains and losses on derivatives (FX, commodities, embedded derivatives), ii) realized gains and losses on derivatives where the underlying hedged transaction has not yet been realized, iii) unrealized foreign exchange movements on receivables/payables (and related assets/liabilities), iv) restructuring and restructuring-related expenses, and v) acquisition-related expenses and certain non-operational items.
Orders
The company received orders worth Rs 2,292 crore in the third quarter of 2015, compensating for the award postponement experienced in the last two quarters. Continued focus on base orders resulted in healthy growth. In addition, large orders also grew significantly during the quarter. Notable projects in transmission, renewables and transportation offset the slowdown in traditional sectors. Order growth was marked by a few firsts like the marine generator and controlled start solutions for mining. Introducing and using such smart solutions to decouple growth from environmental impact in emerging markets is a core element in our Next Level strategy.The order backlog stood at Rs 8,275 crore as on September 30, 2015, providing visibility for future revenue.
Revenue
For the quarter ended September 2015, the company posted an increased revenue of Rs 1,969 crore. Better value offering, enhanced localization coupled with extensive customer outreach in new markets, remained the key drivers for improved revenue during the quarter. Disciplined execution and focused conversion of order backlog buffered headwinds of tight liquidity and excess capacity within industry.
Profit
The company posted a profit before tax of Rs 95 crore and profit after tax of Rs 59 crore. A combination of factors including higher volumes, favorable exchange rates and sustained efforts on operational excellence initiatives helped improve profitability.“Continued confidence in the value addition of our portfolio of advanced and integrated solutions resulted in a good build-up of orders for the quarter,” said Bazmi Husain, Managing Director, ABB India. “We will carefully optimize cost and cash in a market which continues to remain uncertain in its outlook, awaiting a broad-based recovery.”ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 140,000 people.
