Abb Posts Rs 155 Crore Net Profit

Barring Procter & Gamble, whose net fell six per cent for first half 1996-97, three other corporate majors posted healthy rise in profits for the full year 1996.

ABB Indias turnover crossed Rs 1,100 crore to touch Rs 1,185.6 crore against Rs 918.5 crore last year.

Its net profit was up from Rs 62.5 crore to Rs 155 crore. The company declared a final dividend of 50 per cent, which taken with 30 per cent interim dividend, comes to total dividend of 80 per cent for the full year.

Burroughs Wellcome, helped by other income jumped back into black for the 12-month period of January-December 1996, with a net profit of Rs 9.54 crore. The previous year, which was a nine-month period from April-December 1995, the company had made a loss of Rs 3.57 crore. Sales in 1996 touched Rs 184.22 crore from Rs 109.01 crore for the nine-month period.

Glaxo India made sales of Rs 700 crore for 1996.

The previous year for the company was a 18-month period, stretching from July 1994 to December 1995. During this period, Glaxo made sales of Rs 9071.4 crore and profits of Rs 185.09 crore.

Annualising the results show that Glaxos sales have improved from Rs 604.76 crore for the 18 months to Rs 700 crore in 1996. Net profit was at Rs 47.9 crore. The company stated its 18 month profit included profit from the sale of the family products division, which fetched Rs 173.58 crore.

Procter & Gamble, whose profits grew over 80 per cent in 1995-96 first half, saw its profits decline six per cent to Rs 14.25 crore from Rs 15.17 crore.

P&Gs sales grew 20 per cent to Rs 205.6 crore against Rs 171.55 crore.