Shares of Abbott India witnessed an impressive 9 percent surge in morning trade on February 2, fueled by the company’s robust performance in the December quarter.
In Q3, Abbott India reported a net profit of Rs 311 crore, marking a substantial 26 percent year-on-year increase. The company’s revenue also demonstrated resilience, rising nearly 9 percent to Rs 1,437 crore, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) experienced a noteworthy growth of 24.2 percent, reaching Rs 387.6 crore.
Notably, the increase in revenue occurred despite the adverse impact of some of the company’s key drugs being included in the government’s essential medicines list, which imposes price caps.
As of 11:33 am, Abbott India was trading at Rs 28,070 on the NSE. The strong quarterly performance not only contributed to the surge in share value but also led to a notable increase in trading volumes. Approximately 70,000 shares changed hands on exchanges, significantly surpassing the one-month daily traded average of 25,000 shares. The market’s positive response reflects investor confidence in Abbott India’s financial strength and strategic resilience.
