ABB net down 32 per cent, sales drop eight pc

The company also made a provision for taxation to the tune of Rs 50 lakh Rs 1.68 crore, the statement added.

For the nine months ended September 1999, ABB posted a 61 per cent dip in net profit at Rs 7.66 crore on a turnover of Rs 565.41 crore, which was down 2.96 per cent, it said.

Meanwhile, the company8217;s demerger plan, which was approved by the Maharashtra High Court recently, would become effective from the date the court order would be filed with the state registrar of companies, it added.