ABB Q2 net profit at Rs.108.56 Crores, up 50.97% YoY

ABB Ltd has announced the following Unaudited results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 1085.600 million for the quarter ended June 30, 2007 as compared to Rs 719.049 million for the quarter ended June 30, 2006. Total Income has increased from Rs 9895.174 million for the quarter ended June 30, 2006 to Rs 14156.249 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.5.12 for the Quarter ending June 30, 2007 compared to Rs.16.97 for Quarter ending June 30, 2006.

The stock was trading at Rs.1135.15, down by Rs.0.5 or 0.04%. The stock hit an intraday high of Rs.1155 and low of Rs.1120. The total traded quantity was 106295 compared to 2 week average of 106366.

ABB Ltd has announced that the Board of Directors of the Company has appointed Ravi Uppal, as Chairman of the Company. This is consequent to the recent announcement of his role as President Global Markets (GM) and his appointment to ABB's Group Executive Committee (EC).

Biplab Majumder, Executive Director and Chief Operating Officer (COO) will take over as Managing Director and Country Manager of the India operations.

The Board also appointed Peter Leupp, Head-Power Systems Division ABB Group and Veil-Matti Reinikkala Head-Process Automation Division ABB Group, both members of ABB's Group Executive Committee as Directors of the Company. Tom Sjokvist Head-Automation Products Division and ABB Group Executive Committee leaves the Board.

Source : Equity Bulls

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