Abbott India's net profit after tax declined sharply by 34.4 per cent to Rs 12.74 crore in the second quarter ended February 2005 from Rs 19.43 crore in the corresponding period of last year mainly due to lower sales and other income.
Its net sales also declined by 3.5 per cent to Rs 89.73 crore from Rs 92.95 crore. The other income declined to Rs 3.11 crore from Rs 7.55 crore as the company received hefty profit from sale of mutual fund units in the last period. The company received Rs 0.15 crore through sales of mutual fund units in the period under review as against Rs 5.82 crore.
With sharp fall in profits, Abbott's earning per share moved down to Rs 8.34 from Rs 12.72 in the preceding year.