Abbott India gains 10% in 2 days after posting healthy Q3 show; Details

Abbott India shares jumped 5.9 per cent on Thursday, logging an intraday low at Rs 29,436.85 per share on BSE. The stock gained over 10 per cent in two days after the company reported healthy Q3 results.

 

Around 12:18 PM, Abbott India share price was up 4.2 per cent at Rs 28,930 per share on BSE. In comparison, the BSE Sensex was down 0.43 per cent at 77,936.37. The market capitalisation of the company stood at Rs 61,474.23 crore. The 52-week high of the stock was at Rs 30,683.40 per share and the 52-week low was at Rs 25,200.05 per share. 

 

Abbott India reported its third quarter numbers during market hours on Wednesday. The company's Q3 profit increased 16 per cent year-on-year (Y-o-Y) to Rs 360.78 crore as compared to Rs 310.98 crore. Its revenue for the quarter under review stood at Rs 1,614.28 crore as compared to Rs 1,437.14 crore a year ago. 

 

Abbott India Limited is a subsidiary of Abbott Laboratories, a global healthcare company headquartered in the United States. Established in 1944 in India, Abbott India focuses on providing healthcare solutions across various sectors, including pharmaceuticals, medical devices, diagnostics, and nutrition. Abbott India offers a wide range of products, including branded generics, over-the-counter medications, diagnostic equipment, and nutritional products such as infant formula and adult nutrition supplements.

 

The company is particularly known for its presence in the fields of diabetes care, heart health, and nutrition. It has a significant portfolio of prescription medicines and health-related products, including those for critical care, pain management, and infectious diseases. Abbott India also has a strong presence in diagnostics, providing laboratory equipment, diagnostic instruments, and reagents.

 

Abbott India operates with a focus on innovation, ensuring that its products meet high-quality standards while contributing to the improvement of public health. Additionally, the company is committed to corporate social responsibility initiatives aimed at enhancing healthcare accessibility and improving community health outcomes across India.

 

In the past one year, Abbott India shares have gained 4.3 per cent against Sensex's rise of 8.4 per cent.