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Published: May 09, 2024
Updated: May 09, 2024

Pharma Powerhouse Abbott India Declares Rs 410/Share Dividend ; outstanding performance delivered amidst market crash

Thriving Amidst Turmoil: Abbott India's Impressive Performance

Abbott India Ltd, a prominent pharmaceutical company, announced a robust 24% year-on-year (YoY) increase in net profit, reaching Rs 287 crore for the fourth quarter of FY 2023-24. The company's revenue also experienced a commendable surge of 7%, climbing to Rs 1439 crore compared to the previous year's Rs 1343 crore, as disclosed in its BSE filing.

Rewarding Shareholders: Final Dividend Recommendation

The Board of Directors of Abbott India Ltd has proposed a final dividend of Rs 410/- per equity share of Rs 10/- each for the fiscal year ending March 31, 2024. This recommendation is subject to approval by the shareholders at the company's Eightieth Annual General Meeting, scheduled for August 8, 2024.

Share Performance Overview

Abbott India's share performance reflects its resilience and growth trajectory. The company's shares currently trade at Rs 25,557.05 per share on the BSE, witnessing a marginal intraday decline of 1.50%. With a 52-week high of Rs 29,628.15 per share and a low of Rs 20,594.25 per share, Abbott India's market capitalization stands at an impressive Rs 54,306.95 crore.

Consistent Growth and Returns

Despite market fluctuations, Abbott India has demonstrated consistent growth and delivered substantial returns to its shareholders. Over the past week, the company's shares declined by 3.94%, while witnessing a decline of over 8% in the last three months. However, Abbott India's shares have rallied by 7% in the last six months and recorded a remarkable 17% increase over the past year. Moreover, over the past two years, Abbott India shares have gained an impressive 53%, reflecting its robust performance in the market.

A Legacy of Health and Innovation

Since 1910, Abbott has been committed to enhancing the well-being of individuals in India through its diverse portfolio of science-based nutritional products, diagnostic tools, branded generic pharmaceuticals, and diabetes and vascular devices. Headquartered in Mumbai, Abbott India Limited, a subsidiary of Abbott Laboratories, continues to offer medicines across various therapeutic categories, including women's health, gastroenterology, cardiology, metabolic disorders, and primary care.

As the company continues to innovate and expand its offerings, it remains well-positioned to navigate the dynamic landscape of the pharmaceutical industry and deliver sustainable growth in the years to come.