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Drug firm Abbott India today posted 71.42 per cent rise in its net profit to ₹50.93 crore for the first quarter ended June 30.
The company had posted a net profit of ₹29.71 crore for the same period of previous fiscal.
Net sales of the company rose to ₹516.91 crore for the first quarter, as compared to ₹429.68 crore during the same period of previous fiscal, Abbott India Ltd said in a filing to the BSE.
In 2010, Abbott acquired both the pharmaceutical business of Solvay, which had a presence in India, and Piramal Healthcare Solutions, which was part of Piramal Group.
These transactions made it one of the largest health care companies in the country. It now employs about 14,000 people in India, making it the firm’s largest employee base outside the US.
Shares of Abbott India were trading at ₹2,330 apiece on the BSE, up 7.08 per cent from its previous close.
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