Abbott India hits record high on reporting good Q3 performance

Abbott India surged 8.21% to Rs 28,046.10 after the company's net profit increased 26% to Rs 310.98 crore in Q3 FY24 as compared with Rs 246.83 crore in Q3 FY23.

Revenue from operations was at Rs 1,437.14 crore in Q3 FY24, up 8.69% from Rs 1,322.19 crore reported in the same quarter previous year.

Profit before tax stood at Rs 422.16 crore in the quarter ended December 2023, registering a growth of 26.08% on YoY basis.

On nine-month basis, the pharma companys net profit grew 27.32% to Rs 914.16 crore on 10.1% rise in revenue from operations to Rs 4,410.28 crore in 9M FY24 over 9M FY23.

 

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

The scrip hit an all time high at Rs 28,286.55 in todays intraday session.

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