The shares of the American pharma giant Abbott’s Indian arm, Abbott India surged in the intraday trade on Thursday, February 6.
This was no exception, as the company carried on from where it had left. The company shares zoomed on Wednesday, February 5, as well. This surge is being attributed to the Q3 results of the company.
Abbott Quarterly Results
The pharma company, in its third-quarter results, exhibited an increase in its profits from operations.
The company reported profits of Rs 360.78 crore in Q3, compared to Rs 358.61 in the quarter before that, or Q2 of FY25.
In addition, the company’s revenue also grew by 12.3 per cent to Rs 1,614.3 crore.
The company shares have jumped significantly in the recent past. Just in the past 2 days, the cumulative jump in stock price amounted to over 12 per cent.
The company’s expenses also dipped in the second-last quarter of the fiscal year. The total expenses stood at Rs 1,198.4 crore. This is lower than the Q2 FY25’s Rs 1,213 crore.
In the past five trading sessions, the company shares have increased a total of 11.70 per cent or a mammoth Rs 3,065.10. The company shares closed at Rs 26,111.45 on February 4.
Surge At D-Street Continues
On Thursday, February 5, the trend of gains continued as the company share surged at a good pace in the intraday trade.
After opening at Rs 27,998.80 per piece, higher than the previous session’s Rs 27,802.10 per share, the value of the company stocks continued to surge in the green territory.
At the time of writing, the said surge stood at 5.10 per cent or Rs 1,417.90. This took the overall value of the company shares to Rs 29,220.00 per share, inching closer to the Rs 30,000 mark.
The company’s 52-week high stands at Rs 30,668.00 per share.
