Abbott India Ltd's Q2FY19 standalone net profit rises 0.12% yoy to Rs137.68cr : Beats Estimates

The company’s standalone revenue stood at Rs979.72cr, up 5.24% yoy and 15.95% qoq.

Nov 14, 2018 04:11 IST India Infoline Research Team

Abbott India Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 979.72 5.2
EBITDA 194.01 [3.6]
EBITDA Margin (%) 19.8 [183]
Net Profit (adjusted) 137.68 0.1
***EBITDA margin change is bps
Abbott’s revenue in Q2FY19 grew 5.2% yoy to Rs979.7cr. EBITDA declined by 3.6% yoy to Rs194cr in Q2FY19 vs. Rs201.3cr in Q2FY18. EBITDA margins stood at 19.8% in Q2FY19 vs. 21.6% in Q2FY18 and 13.2% in Q1FY19. PAT was flat at Rs137.7cr in Q2FY19 vs. Rs137.5cr in Q2FY18. We had expected revenue/EBITDA and PAT of Rs958.9cr/Rs124.6cr and Rs93.9cr, hence results are above our expectations.

Other highlights 
  • Gross margin stood at 42.9% in Q2FY19 vs. 44% in Q2FY18.
  • Employee costs grew by 7% yoy to Rs105.2cr while other expenses grew by 9.9% yoy to Rs120.7cr.
  • The revenue growth of 5.2% in Q2FY19 on year on year basis has come despite the high base of Q2FY18, which we view positively.
  • Tax rate during Q2FY19 stood at 35.7% vs. 35.1% in Q2FY18 and 35.9% in Q1FY19.

Technical View:

Abbott India Ltd is currently trading at Rs. 7,584.10, up by 72.75 points or 0.97% from its previous closing of Rs. 7,511.35 on the BSE.
The scrip opened at Rs. 7,575 and has touched a high and low of Rs. 7,601.50 and Rs. 7,570 respectively. So far 500 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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