Aug 12 (Reuters) - Drugmaker Abbott India ABOT.NS reported an 11.5% rise in first-quarter profit on Tuesday, driven by healthy sales in its mainstay pharmaceuticals segment.
The company, known for its PediaSure nutrition drink, reported a profit of 3.66 billion rupees ($41.77 million) for the quarter ended June 30, up from 3.28 billion rupees a year ago.
Revenue from operations climbed 11.6% to 17.38 billion rupees.
KEY CONTEXT
Chronic therapies and price-led gains are expected to drive nearly 10% growth in India's pharmaceutical market in the June quarter, analysts said. Abbott, which has a strong presence in chronic treatments such as thyroid and diabetes drugs, is seen leading growth among multinational peers.
Peer JB Chemicals & Pharmaceuticals JBCH.NS last month posted an 8.9% higher quarterly profit, led by healthy domestic demand for its drugs.
PEER COMPARISON
Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Revenue growth(%)
Profit growth(%)
Mean rating*
# of analysts
Stock to price target**
Div yield(%)
Abbott India
ABOT.NS
43.59
33.53
7.56
12.31
Strong Buy
6
0.93
1.46
GlaxoSmithKline Pharmaceuticals
GLAX.NS
42.29
31.47
8.92
11.72
Buy
4
0.87
1.54
Torrent Pharmaceuticals
TORP.NS
46.26
27.15
12.61
25.39
Buy
29
0.93
0.91
J B Chemicals and Pharmaceuticals
JBCH.NS
31.65
20.48
12.23
18.57
Buy
12
0.86
0.74
* 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
APRIL-JUNE STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 87.6162 Indian rupees
APRIL-JUNE STOCK PERFORMANCE https://reut.rs/4lkXrp4
(Reporting by Aleef Jahan in Bengaluru; Editing by Ronojoy Mazumdar)
((aleefjahan.cs@thomsonreuters.com))