ABB drops on Q4 net dip

ABB has dropped in morning trades following a dip in Q4 and FY09 profits.

The stock opened at Rs 794 and touched a high of Rs 797. However, it slipped 3% from there to a low of Rs 775. The stock is now trading with a loss of 2.2% at Rs 777. Around 12,000 shares have been traded on the BSE so far.

The net profit of the company dropped 43% to Rs 109.60 crore in the quarter ending December 31, 2009 from Rs 193.11 crore in the corresponding quarter a year ago.

Total income decreased 14% to Rs 1,906.78 crore from Rs 2,217.05 crore in the same period.