Abbott India Logs Weak Q3 Performance; Margins Stable: ICICI Securities
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ICICI Securities Report
Abbott India Ltd.’s Q3 FY21 performance was muted and lower than our estimates.
Revenue grew 1.6% YoY to Rs 10.9 billion (our estimate Rs 11.5 billion), Ebitda margin remained flat at 22.1% (our estimate 22.7%) and adjusted profit after tax declined 5.1% YoY to Rs 1.8 billion (our estimate Rs 2.0 billion).
The muted performance was due to slowdown in key products due to the challenging environment.
Near term pressures continue but recovery is on the cards with easing of lockdown.
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