Abbott India hits 52-Week high as Q1 sees impressive profit and revenue surge

10 Aug 2023 , 12:58 PM

Abbott India’s shares surged over 4 % to hit a 52-week high of Rs 24,744.25 on August 10, propelled by robust performance across profit, revenue, and profitability in the April-June quarter.

The pharmaceutical company’s net profit for the June quarter escalated by 41.2 %, reaching Rs 290.20 crore from Rs 205.60 crore in the comparable period.

Strong sales contributed to the notable growth, with revenue increasing by 13.4 % year-on-year to Rs 1,479 crore.

The majority of Abbott India’s revenue is derived from its core pharmaceutical business. The company is involved in developing and distributing a comprehensive portfolio of over 600 products in India, encompassing vitamins, anti-allergic medications, and consumer care items.

Abbott India has consistently achieved double-digit revenue growth over the last three quarters, attributed to controlled expenses and steady sales, based on available data.

The company’s earnings report highlighted a substantial improvement in margins, with the EBITDA margin expanding from 20.7 % to 24 % in April-June. Abbott India’s financial profile has displayed consistent improvement over the past quarters, with compounded sales and profit growth of 10 % and 19 % respectively within the last five years.

The company also maintains a strong track record in return on equity (ROE), delivering an approximate RoE of 30 % over the last three years.

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