Abbott India reports 1.96% decline in Q4 net profit to Rs 110.97 crore

Drug firm Abbott India on Monday reported a 1.96 per cent decline in net profit to Rs 110.97 crore for the quarter ended on March 31, 2020, mainly on account of rise in expenses.

The company had posted a net profit of Rs 113.19 crore for the corresponding period of previous fiscal, Abbott India said in a BSE filing.

Revenue from operations stood at Rs 961.20 crore for the quarter under consideration as against Rs 906.31 crore for the same period year ago, news agency PTI reported.

Total expense for the quarter ended March 2020 was at Rs 840.40 crore. It was Rs 759.07 crore in the year-ago quarter.

Net profit for 2019-20 was at Rs 592.93 crore as against Rs 450.33 crore in 2018-19, Abbott India said.

For the fiscal ended March 2020, revenue from operations stood at Rs 4,093.14 crore. It was Rs 3,678.60 crore for the year-ago period, it added.

The board of directors has recommended a final dividend of Rs 107 per equity share and special dividend of Rs 143 per equity share for FY20, Abbott India said.

Shares of Abbott India closed at Rs16,603.30 per scrip on the BSE, down 2.81 per cent over previous close.