Abbott India rallies after Q1 PAT spurts 54% to Rs 180 cr

Abbott India jumped 5.01% to Rs 17,000 after standalone net profit surged 54.2% to Rs 180.35 crore on 6.5% jump in net sales to Rs 1,064.27 crore in Q1 June 2020 over Q1 June 2019.

Standalone profit before tax (PBT) soared 29.7% to Rs 242.50 crore in Q1 June 2020 as against Rs 186.95 crore in Q1 June 2019. Current tax expense for the quarter dropped 10.2% to Rs 63.60 crore as against Rs 70.80 crore in Q1 June 2019. The Q1 result was declared after trading hours on Friday, 7 August 2020.

The extended lockdown on account of COVID-19 pandemic has led to a slowdown of demand in some therapeutic areas and resulted in lower sales. Abbott India continues to ensure uninterrupted supply of products to meet the needs of