Mumbai: Engineering major ABB Ltd on Tuesday announced a net profit of Rs491.67 crore for the financial year ended 31 December, 2007, a 44.48% growth over the corresponding period a year ago.
The company had a net profit of Rs340.31 crore in the financial year ended 31 December, 2006, ABB Ltd said in a filing with the Bombay Stock Exchange.
The total income rose to Rs6,001.36 crore in the FY’07, from Rs4,347.70 crore in the year-ago period.
The company announced a net profit of Rs180.79 crore for the fourth quarter ended of FY’07, a 33.97% growth over the corresponding period last year.
The firm had a net profit of Rs134.95 crore in the fourth quarter of FY’06.
The total income rose to Rs1,864.80 crore in the fourth quarter of FY’07 from Rs1,443.72 crore in the year-ago period.
The board of directors of the company has recommended a dividend of Rs2.20 per share on every Rupees two share held.
Further, ABB Ltd appointed K Rajagopal, the company’s Chief Financial Officer, as the whole-time director on the board of the company.
Shares of the company were trading at Rs1,322, down 2.13% in the late afternoon trading session on the BSE.