 "Abbott India soars 12% on stellar Q1 performance")
Abbott India has soared 9% to Rs 2,450 after reporting 70% year-on-year (yoy) growth in net profit at Rs 51 crore for the first quarter ended June 30, 2014 (Q1). The pharmaceutical company had posted a profit of Rs 30 crore in the same quarter last fiscal.
Net sales increased by 20% to Rs 517 crore during the quarter under review against Rs 430 crore in the corresponding quarter of previous year. EBITDA or operating profit improved to 13.3% from 9.6% during the recently concluded quarter.
The stock opened at Rs 2,180 and hit a record high of Rs 2,465 on National Stock Exchange. A combined 31,165 shares changed hands so far against an average sub 10,000 shares that were traded daily in past two weeks on NSE and BSE.
Net sales increased by 20% to Rs 517 crore during the quarter under review against Rs 430 crore in the corresponding quarter of previous year. EBITDA or operating profit improved to 13.3% from 9.6% during the recently concluded quarter.
The stock opened at Rs 2,180 and hit a record high of Rs 2,465 on National Stock Exchange. A combined 31,165 shares changed hands so far against an average sub 10,000 shares that were traded daily in past two weeks on NSE and BSE.