Mumbai, Jan 22: Abbott Laboratories (India) Ltd has registered a 77 per cent increase in profit after tax and extraordinary expenses at Rs 4.07 crore for the nine-months ended December 31, 1999, as against Rs 2.30 crore in the corresponding period of the previous year. Gross sales, which is inclusive of trade discounts and sales tax, jumped by 11.28 per cent to Rs 86.29 crore as compared with Rs 77.54 crore in the previous year.For the quarter ended December 31, 1999, sales recorded a growth of 18.3 per cent, while net profits grew by 85.5 per cent over the corresponding period of the previous year.
Other income for the nine months ended December 31, 1999 stood at Rs 26.62 lakh, while total expenditure was higher at Rs 69.29 crore. Depreciation was higher at Rs 58.50 lakh while interest was lower at Rs 1.12 crore, during the period.
The company said that amortisation of the balance deferred revenue expenditure (extraordinary expenses) of Rs 6.52 crore has not been considered for the quarterly results.The company's paid up share capital has been increased from Rs 2.25 crore to Rs 2.60 crore consequent to the allotment of 359752 rights equity shares of Rs 10 each at a premium of Rs 615 per share on August 24, 1999.
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