Abbott India to Buy Back Shares

Abbott India announced that a meeting of the board of directors of the company will be held on 5 September 2007, to consider a proposal for buyback of a portion of fully paid equity shares of the company. The buyback price to be determined by the board will not exceed Rs 650 per equity share, it said.

Net profit of Abbott India rose 34.66% to Rs 18.30 crore on 18.80% rise in sales to Rs 154.04 crore in Q2 May 2007 over Q2 May 2006.