Abbott India's net profit has taken quantum jump of 121 per cent during the third quarter ended August 2004 mainly on account of sharp rise in other income. Its net profit touched to Rs 43.29 crore from Rs 19.63 crore in the corresponding period of last year. The company's sales remained almost at same level at Rs 104.58 crore, but its other income went up to Rs 31.38 crore from Rs 2.29 crore due to profit on sale of Mutual Fund units worth Rs 29.18 crore during period under review. The earning per share worked out to Rs 28.32 as against Rs 12.85 in the similar period of last year.
The total expenditure during the quarter ended August 2004 increased only by 4.6 per cent to Rs 81.60 crore as its raw material cost declined to Rs 4.61 crore from Rs 7.91 crore. Purchases of finished goods reached at Rs 57.93 crore from Rs 53 crore. The profit before tax increased by 95.3 per cent to Rs 53.35 crore from Rs 27.32 crore.
The company's sales for the nine months period ended August 2004 increased by 8.8 per cent to Rs 299.74 crore from Rs 275.41 crore and its other income increased to Rs 49.48 crore from Rs 15.15 crore. Significant rise in other income pushed its net profit to Rs 85.82 crore from Rs 53.12 crore, registering a growth of 61.6 per cent. Thus the company's net profit for the nine months period has already crossed the net profit of Rs 67.98 crore for the full year ended November 2003.