GE Q2 profit falls to $2.67 bn

Diversified conglomerate General Electric has posted a 47 per cent decline in profit for the second quarter at $2.67 billion, as the global financial turmoil took a severe toll on the firm's financial and other business.

The industrial bellwether reported a profit of $2.67 billion on revenues of $39.08 billion for the three months ended June, it said in a statement.

General Electric had a profit of $5.07 billion in the year-ago period. "Segment profit fell 36 per cent compared with the second quarter of 2008 as 13 per cent growth at Energy Infrastructure was more than offset by an 80 per cent decline at Capital Finance and a 41 per cent decrease at NBC Universal," the company said.

The second quarter revenues plunged 17 per cent to $39.08 billion. In the comparable period, the same stood at $46.84 billion.

Meanwhile, the company has recorded 46 per cent growth in industrial growth in India during the second quarter.

"Global growth continued to be strong: second-quarter industrial revenues grew 31 per cent in China; 46 per cent in India; and 10 per cent in the Middle East," the firm said.