Abbott India August qtr net up 7% to Rs 24 cr

Drug firm Abbott India today said its net profit rose by 7.6 per cent to Rs 23.90 crore for the quarter ended August 31.

The company had a net profit of Rs 22.21 crore in the same period previous fiscal.

Net sales of the company rose to Rs 249.90 crore for the quarter ended August 31, in comparison to Rs 201.95 crore in the same period corresponding fiscal, Abbott India said in a filing to Bombay Stock Exchange (BSE).

For the nine month period ended August 31, the company reported a net profit of Rs 49.77 crore, compared to Rs 53.86 crore in the same period previous fiscal.

The company's net sales rose to Rs 676.33 crore for the nine month period ended August 31, compared to Rs 563.04 crore in the same period last fiscal.

In May this year, Abbott bought domestic formulations business of Piramal Healthcare for $3.72 billion and became the leading pharmaceutical company in India.

Abbott India is part of the US drug major Abbott Laboratories which employs around 65,000 people globally and sells its products in 130 countries worldwide.

Shares of the company today closed at Rs 1,105.65 on BSE, down 0.50 per cent from its previous close.