Abbott India, a Rs 400-crore plus MNC, has suffered heavy setback during the first quarter ended February 2005 on account of lower sales and fall in other income. Its net profit declined sharply by 34.4 per cent to Rs 12.74 crore from Rs 19.43 crore in the corresponding period of last year. The earning per share moved down to Rs 8.34 from Rs 12.72. The company's sales 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 in the last period mainly due to lower profit on sale of mutual fund units. The company recorded profit on sales of Rs 0.15 crore during the first quarter ended February 2005 as against Rs 5.82 crore in the corresponding period of last year. Though the cost of consumption of raw material declined to Rs 1.70 crore from Rs 4.47 crore, the purchase of finished goods went up to Rs 63.58 crore from Rs 50.78 crore. The operating profit before interest, depreciation and taxation declined to Rs 19.30 crore from Rs 27.28 crore in the corresponding period of last year.