Abbott India posts higher Q3 profit on strong demand

Abbott India

05/02/2025 08:06

Feb 5 (Reuters) - Drugmaker Abbott India  ABOT.NS  reported a jump in third-quarter profit on
Wednesday, helped by strong demand for its gastrointestinal and heart disease medications, sending shares
higher.
    The company reported a profit of 3.61 billion rupees ($41.4 million) for the quarter ended Dec. 31,
up 16% from a year ago.
    Revenue from operations climbed 12% to 16.14 billion rupees.
    Shares of the company rose 3.5% after results.
    For further highlights, click  urn:newsml:reuters.com:*:nFWN3OW01T.

    KEY CONTEXT
    Anti-diabetic, cardiovascular and gastrointestinal drugs, which form a major chunk of Abbott India's
drugs portfolio, saw the highest demand during the quarter, Elara Capital analysts said.
    Analysts have previously noted that price hikes for drugs that were excluded from India's "essential
medicines list" helped earnings for drugmakers that earn most of their revenue from domestic sales, such
as Abbott.
    
    PEER COMPARISON
    
                                                 Estimates (next       Analysts' sentiment       
                                                   12 months)                                    
                      RIC        PE     EV/EBI  Revenue  Profit    Mean     # of      Stock to   Div
                                        TDA     growth   growth    rating*  analysts  price      yield
                                                (%)      (%)                          target**   (%)
 Abbott India Ltd      ABOT.NS   37.31   29.15   10.66    13.00    Strong          4    0.83         1.57
                                                                   Buy                           
 GlaxoSmithKline       GLAX.NS   34.52   25.15   9.59     20.97    Buy             4    0.70         1.63
 Pharmaceuticals Ltd                                                                             
 Glenmark              GLEN.NS   23.98   13.92   11.33    54.31    Buy            10    0.84         0.17
 Pharmaceuticals Ltd                                                                             
 Pfizer Ltd            PFIZ.NS   28.50   21.95   8.22     12.92    Buy             3    0.74         0.79
 * 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
    
    OCTOBER TO DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 87.2850 Indian rupees

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OCTOBER TO DECEMBER STOCK PERFORMANCE    https://tmsnrt.rs/3Q3IGcU
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 (Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))