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Buffett-backed BYD's profit plunges 99%

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Bloomberg
Last Updated : Jan 20 2013 | 1:24 AM IST

BYD Co, the Chinese carmaker backed by Warren Buffett, fell the most in almost two years in Hong Kong trading after third-quarter profit dropped 99 per cent amid faltering sales. The shares declined 10 per cent to close at HK$51.05, the biggest drop since November 2008, after BYD posted net income of 11.34 million yuan ($1.7 million) for the three months ended September 30. It was the second-biggest decline among 982 stocks in the MSCI Asia Pacific Index.

 

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First Published: Oct 27 2010 | 12:50 AM IST

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