Abbott India Q3'06 net crawls up 2 pc to Rs 16.37 crore

Mumbai, Sept 18 (UNI) Abbott India Ltd has posted 2 per cent rise in its net profit for the quarter ended August 31, 2006 at Rs 16.37 crore as compared to Rs 16.09 crore for the quarter ended August 31, 2005.

Announcing the results, the company said its total income increased by 13 per cent to Rs 142.36 crore for the quarter ended August 31, 2006 from Rs 126.1 crore in August 31, 2005.

The companys board on August 25, 2006, approved the proposal of buy-back of fully paid equity shares of the company by utilizing an amount of Rs 524,784,417 at a price not exceeding Rs 650 per share, subject to approval of the members through postal ballot.

Abbott has a presence in the cardiovascular, gastro-enteritis and anti-rheumatics therapeutic segments. It is also a major player in the insulin market with almost 25 per cent market share. Its products like Brufen and Digene are leaders in their respective therapeutic segments.

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