ABBOTT INDIA Announces Quarterly Results (3QFY20); Net Profit Up 59.5%

Tue, 11 Feb

ABBOTT INDIA has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

ABBOTT INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-18*	3 Sep-19*	3 Dec-19*	QoQ Change	YoY Change
Net Sales	Rs m	9,477	10,548	10,783	2.2%	13.8%
Other income	Rs m	376	289	278	-3.9%	-26.2%
Turnover	Rs m	9,853	10,837	11,060	2.1%	12.3%
Expenses	Rs m	8,012	8,507	8,386	-1.4%	4.7%
Gross profit	Rs m	1,465	2,041	2,397	17.4%	63.6%
Depreciation	Rs m	40	150	151	0.7%	280.1%
Interest	Rs m	4	18	19	2.2%	332.6%
Profit before tax	Rs m	1,797	2,163	2,506	15.9%	39.4%
Tax	Rs m	627	379	639	68.4%	1.9%
Profit after tax	Rs m	1,171	1,783	1,867	4.7%	59.5%
Gross profit margin	%	15.5	19.4	22.2
Effective tax rate	%	34.9	17.5	25.5
Net profit margin	%	11.9	16.5	16.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 13.8% on a year-on-year (YoY) basis. The expenses were up by 4.7% YoY during the same period.
• The company's operating profit increased by 63.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.2% in 3QFY20 as against 15.5% in 3QFY19.
• Depreciation charges increased by 280.1% and finance costs increased by 332.6% YoY, respectively.
• Other income declined by 26.2% YoY during the quarter.
• Net profit for the quarter increased by 59.5% YoY. Net profit margins during the quarter increased from 11.9% in 3QFY19 to 16.9% in 3QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.4% QoQ during the same period.
• The company's operating profit increased by 17.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.2% in 3QFY20 as against 19.4% in 2QFY19.
• Net profit for the quarter increased by 4.7% QoQ, while net profit margins increased from 16.5% in 2QFY19 to 16.9% in 3QFY20.

To see how ABBOTT INDIA has performed over the last eight quarters,please visit here.

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ABBOTT INDIA Share Price Performance

Over the last one year,ABBOTT INDIA share price has moved up from Rs 7,712.8 to Rs 14,870.0, registering a Gain of Rs 7,157.2 or around 92.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,305.7 (up 0.5%). Over the last one year it has moved up from 13,720.0 to 14,305.7, a gain of 586 points (up 4.3%).

Overall, the S&P BSE SENSEX is up 13.7% over the year.

Current Valuations

At the current price of Rs 14,870.0, the price to earnings (P/E) ratio of ABBOTT INDIA stands at 53.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.7 times.