Abbott India's net sales for the third quarter ended August 2006 improved by 10.6 per cent to Rs 136.75 crore from Rs 123.65 crore in the corresponding period of last year. The net profit, however, increased marginally by 1.7 per cent to Rs 16.37 crore from Rs 16.09 crore. Thanks to significant higher other income, which amounted to Rs 5.61 crore as against Rs 2.45 crore.
For the nine months period ended August 2006, Abbott's net sales moved up to Rs 380.24 crore from Rs 327.19 crore in the similar period of last year. The net profit worked out to Rs 44.39 crore as compared to Rs 43.87 crore.
The company is planning to buyback equity shares at a price not exceeding Rs 650 per share aggregating to a maximum of Rs 52.48 crore after necessary approval from shareholders by way of postal ballot.