Abbott India Jan-March quarter net at Rs 38 cr

Company had posted net profit of Rs 31.70 crore for the same period of the previous fiscal

Drug firm Abbott India today reported net profit of Rs 38.40 crore for the quarter ended March 31, 2014 on account of robust sales.

It had posted net profit of Rs 31.70 crore for the same period of the previous fiscal, Abbott India said in a filing to the BSE.

Net sales of the company stood at Rs 478.55 crore for the quarter, as against Rs 406.52 crore in the year-ago period.

"With effect from the current financial year, the company has changed its accounting year from year ended December 31 to year ended March 31. Hence the figures and earnings per share for the current accounting period are not comparable with those of the previous year," Abbott India said.

In another filing on the BSE, the company said its Board has recommended final dividend of Rs 23 per equity share of Rs 10 each.

Abbott India scrip was trading at Rs 1,790 in the afternoon trade on the BSE, up 1.70% from its previous close.