Abbott's India arm posts 9.5% rise in fourth-quarter profit

Abbott India

19/05/2023 12:30

BENGALURU, May 19 (Reuters) - Abbott India Ltd  ABOT.NS  reported a 9.5% jump in
fourth-quarter profit on Friday, helped by strong sales in its mainstay pharmaceuticals
segment. 
    Profit for the company, which makes ibuprofen pain-reliever under the brand name Brufen,
rose to 2.31 billion rupees ($28.3 million) in the three months ended March 31, from 2.11
billion rupees a year ago, the company said in an exchange filing.
    For further results highlights, click  urn:newsml:reuters.com:*:nFWN37G0UK
        
  
        WHY IT MATTERS
    Abbot India, for which pharmaceutical is the sole revenue generator, develops and
distributes over 600 products in India, including vitamins, anti-allergic drugs and consumer
care. The local unit of U.S. healthcare company Abbott Laboratories  ABT.N  reported
double-digit growth in net income in the last two quarters, helped by a steady decline in
operating expenses. 
    Earlier this week, rival Pfizer Ltd  PFIZ.NS  reported a 3.1% increase in fourth-quarter
profit on lower raw material expenses, while GlaxoSmithKline Pharmaceuticals Ltd  GLAX.NS 
posted an 8.6% fall in pre-tax profit.  
        
    PEER COMPARISON

    
                   Estimates         Analysts' sentiment                               
                   (next 12                                                            
                   months)                                                             
          RIC    PE     EV/EBI  Revenue     Profit    Mean     # of     Stock to       Div
                        TDA     growth      growth    rating*  analyst  price          yield
                                                               s        target**       (%)
 Abbott                                                                            
 Ltd                                                                                   
 Pfizer                                                                            
 GlaxoSm                                                                           
 e                                                                                     
 Pharmac                                                                               
 eutical                                                                               
 s Ltd                                                                                 
 Cipla                                                                             
 
    
 * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong
Sell
 
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the
stock is trading above the PT
    
    JAN-MARCH STOCK PERFORMANCE
  
 
 
    -- All data from Refinitiv
    -- $1 = 81.7800 Indian rupees



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Abbott India shares vs peers    https://tmsnrt.rs/41QiTs4
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 (Reporting by Rama Venkat in Bengaluru; Editing by Sherry Jacob-Phillips and Dhanya Ann
Thoppil)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607; +91 8095218099;))