Dr Lal PathLabs released their October-December quarter results on Thursday and reported a 54% year-on-year rise in their net profits. The profit after tax (PAT) of the company jumped to ₹81.3 crore in the quarter ending December 2023 from ₹52.8 crore during the year-ago period.
The revenue from operations of the company witnessed a 10% jump during the same period as it rose from ₹489.4 crore to ₹539 crore during the period under review.
Sequentially, Dr. Lal PathLabs reported a 25% quarter-on-quarter decline in its net profit, which stood at ₹109.3 crore during the quarter ending September 2023. The revenue from operations also plunged 10% quarter-on-quarter from ₹601.3 crore in Q2FY24.
The Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Dr Lal PathLabs improved 24.6% from ₹113 crore to ₹141 crore during the quarter ending December 2023. During the quarter the EBITDA margin stood at 26.1%.
“We are pleased to share that we have delivered yet another quarter of double-digit revenue growth of 10.1% In Q3, serving 6.7 million patients & testing 18.6 million samples representing a sample growth of 7.1 % over last year. Our key product programs like Swasthfit contributing to 20% of revenue, medical Centre of Excellence – LACE and LCORD continue to fortify our position amongst the medical community and patients," CEO Bharath Uppiliappan said.
"In addition digitally enabled initiatives like CHIPs & Recommendation engines continue to make meaningful contributions in enhancing patient loyalty and stickiness. Overall, we are moving the right levers to optimally set a growth trajectory that will give us sustainable growth. Our strategy of deepening presence in underserved Tier 3 and 4 markets by opening new labs is taking concrete shape and we are on course to accelerate this momentum. To support this, we have built a strong hub lab network. Based on robust opportunity size, we are making targeted investments to consolidate our position and serve as many patients as possible,” it added.
The shares of Dr Lal PathLabs were trading 0.19% up on Thursday at ₹2,522.15
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