New Delhi, Feb 9: Leading technology company ABB India on Friday appointed Jean Christophe Deslarzes new Chairman of the group. Deslarzes is also the head of human resource and member of Executive Committee of ABB India. He will be succeeding Frank Duggan, who recently resigned from the position of chairman and took new responsibility as the President of the Europe region, ABB Group.Also Read - ABB India's 'Make in India' Push: Swiss Major Set up Digital Lab in Association With NITTTR

Earlier, ABB India reported an increase of 5.34 percent in net profit to Rs 171.52 crore for the quarter ended December 31. The company, in a release, said that the company’s net profit in the year 2017 was recorded at Rs 419.95 crore in comparison to Rs 374.47 crore in the year 2016. Also Read - EV Motors,DLF,Delta & ABB to invest $200m in charging stations

“ABB India’s revenue for 2017 was INR 9087 crore. All divisions contributed, aided by stabilization and selective improvement in end-customer markets including ports, process industries, mining, refining and emerging markets such as food and beverage, smart cities and metros,” the statement said. Also Read - ABB India Q3 net profit up 30% to Rs 108.34 crore

“The company closed the year with a solid cash performance across all four divisions, reinforcing the mantra of cash over revenue for a balanced growth,” it added.

“We have delivered balanced performance in 2017, and built a solid foundation for future growth and profitability as our nation’s and global markets improve. The year was marked by our success in landmark nation-building projects across the country from Kashmir to Kerala,” said Sanjeev Sharma, Managing Director, ABB India.