Abbott India slips after Q4 PAT shrinks 2%

Abbott India lost 2.53% to Rs 16,650 after net profit fell 2% to Rs 110.97 crore on 6.1% rise in revenue from operations to Rs 961.20 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax (PBT) stood at Rs 148.93 crore in the Q4 FY20, down by 15.7% from Rs 176.60 crore in Q4 FY19. Current tax expenses in the fourth quarter declined by 40% year-on-year to Rs 36.76 crore.

Net profit rose 31.7% to Rs 592.93 crore on 11.3% increase in net sales to Rs 4,093.14 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 802.69 crore in FY20, up by 14.9% from Rs 698.85 crore in FY19.

"In view of the uncertainties regarding the extent and duration of the current COVID-19 situation, we are unable to predict the future impact on the business operations. The company will continue to closely monitor the situation and take appropriate measures in an attempt to mitigate adverse impact," the drug maker said.

The board of directors recommended final dividend of Rs 107 and special dividend of Rs 143 per equity share of Rs 10 each for the year ended 31 March 2020.

Abbott India has a portfolio of science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. Its business operations are divided into four business divisions: women's health & gastrointestine, gastroenterology and hepatic care; specialty care; gennext & vaccines, and consumer care.

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