During early trades on November 13, shares of Abbott India faced a decline of nearly 3 percent, responding to the pharmaceutical major’s report of a 17 percent year-on-year increase in net profit for Q2FY24, as officially disclosed on November 10.
By 1:21 pm on November 13, the stock was actively trading on the NSE at ₹23,209.25.
As per a regulatory filing, Abbott India documented an 8.31 percent surge in net sales on a year-on-year basis, totaling Rs 14,914 crore for the quarter concluding in September 2023.
The quarterly net profit displayed a noteworthy growth of 17.86 percent for the same period, reaching Rs 312.94 crore. Earnings before interest, taxation, depreciation, and amortization (EBITDA) for September 2023 stood at Rs 436.39 crore, marking a 15.81 percent increase from the previous fiscal.
