ABB Ltd said its net profit for second quarter ended 30 June 2010 fell to Rs38.3 crore from Rs83.6 crore during the corresponding period last year on lower orders.
During the April-June quarter, its sales declined 4% to Rs1,446 crore.
ABB said, during the second quarter, it received order worth Rs1,234.6 crore compared with Rs2,111.6 crore same quarter a year ago. Orders were impacted due to delays in conclusion of a number of large projects compared to the same period last year and continued price pressure in the market, ABB said in a regulatory filing.
On Friday, ABB shares slipped 4% to Rs812 on the Bombay Stock Exchange, while the Sensex closed 0.7% lower to 17,868 points.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
