Abbott India edges higher after board OKs dividend of Rs 410/share; Q4 PAT rises 24% YoY

Abbott India advanced 2.06% to Rs 26084.15 after the company's board approved a final dividend of Rs 410 per share for the year ended on 31 March 2024.

The record date for the same is Friday, 19 July 2024. The dividend would be paid on or after Tuesday, 13 August 2024.

At yesterdays closing price of Rs 25,557.05 per share, this translates to a dividend yield of 1.60%.

Abbott India has reported 24% rise in net profit to Rs 287.06 crore on a 7% increase in revenue from operations to Rs 1,483.63 crore in Q4 FY24 as compared with Q4 FY23.

Total expenses of the company added up to Rs 1,130.10 crore in the fourth quarter, which was higher by 4% as compared with the same period last year. This was primarily due to higher raw material costs (up 26% YoY), higher stock-in-trade purchases (up 11% YoY) and higher employee expenses (up 15% YoY).

Profit before tax in Q4 FY24 stood at Rs 389.68 crore, up by 26% from Rs 308 crore in Q4 FY23.

For FY24, Abbott India has recorded net profit and revenue of Rs 1,201.22 crore (up 27% YoY) and Rs 5,848.91 crore (up 9% YoY), respectively.

Abbott India has a portfolio of science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

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