Abbott India Ltd reported a 9.5% jump in fourth-quarter profit on Friday, helped by strong sales in its mainstay pharmaceuticals segment. Profit for the company, which makes ibuprofen pain-reliever under the brand name Brufen, rose to 2.31 billion rupees ($28.3 million) in the three months ended March 31, from 2.11 billion rupees a year ago, the company said in an exchange filing.
For further results highlights, click WHY IT MATTERS Abbot India, for which pharmaceutical is the sole revenue generator, develops and distributes over 600 products in India, including vitamins, anti-allergic drugs and consumer care.
The local unit of U.S. healthcare company Abbott Laboratories reported double-digit growth in net income in the last two quarters, helped by a steady decline in operating expenses.
Earlier this week, rival Pfizer Ltd reported a 3.1% increase in fourth-quarter profit on lower raw material expenses, while GlaxoSmithKline Pharmaceuticals Ltd posted an 8.6% fall in pre-tax profit.
