Dr Lal PathLabs Q4 Results: Net profit rises 49% to ₹84 crore, revenue up 11% YoY; dividend declared

Dr Lal PathLabs Q4 Results: Dr. Lal PathLabs announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Friday, May 10, reporting a rise of 49 per cent in net profit at ₹84.5 crore, compared to ₹56.7 crore in the corresponding period last year. The healthcare test major's revenue from operations in the fourth quarter of FY24 rose 11 per cent to ₹545.5 crore, compared to ₹491 crore reported in the year-ago period.

India's biggest diagnostics firm by revenue's posted a bigger profit for the fourth straight quarter driven by the addition of more labs and the increased demand for medical tests. Analysts expect that Indian diagnostic companies are likely to benefit from geographic expansions and price hikes.

Also Read: Dr Lal PathLabs appoints Shankha Banerjee as CEO, KMP with effect from May 21

Dr Lal PathLabs Q4 Results - Key Metrics

The company's board recommended a final dividend of ₹6 per equity share for FY24. ‘’Recommendation of final dividend of ₹6 per equity share (at 60 per cent on a face value of ₹10 each) for the financial year ended March 31, 2024 subject to approval of the shareholders at annual general meeting of the company. The record date for the purpose of payment of final dividend is June 10, 2024.

"We're expanding our reach in core markets by strengthening our presence in Tier 3 and Tier 4 towns," said Shankha Banerjee, Chief Executive Officer-designate, Dr. Lal PathLabs. The number of samples tested grew 8.5 per cent during the quarter, and was up roughly 10 per cent for the fiscal year. The company operates more than 280 labs in India. 

Also Read: Dr Lal PathLabs Q3 results: Net profit rises 54% YoY to ₹81.3 crore; revenue jumps 10%

Dr Lal PathLabs said that its board has given approval for allotment of 2,500 equity shares under Employee Stock Option Plan 2010 (ESOP 2010 Plan) of the company. Pursuant to the allotment, the paid-up equity share capital of the company increased to ₹83,48,03,520 divided into 8,34,80,352 equity shares.

The board re-appointed Dr. Vandana Lal as the Whole-Time Director, for a period of give years from April 01, 2025, subject to approval of shareholders. Ahead of the announcement of Q4FY24 results, shares of Dr Lal PathLabs settled 5.38 per cent higher at ₹2,348.85 apiece on the BSE.