Dr Lal Path Labs' consolidated net profit jumped 74.7% to Rs 95.90 crore on 38% rise in net sales to Rs 452.40 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) soared 75.6% to Rs 128.90 crore in Q3 December 2020 as against Rs 73.40 crore in Q3 December 2019. Current tax expense for the quarter surged 102.40% to Rs 33.60 crore as against Rs 16.60 crore in Q3 December 2019. The Q3 result was declared post trading hours yesterday, 29 January 2021.
Operating revenue jumped 38% in Q3 FY21 to Rs 452.4 crore as against Rs 327.90 crore in Q3 FY20. COVID-19 and allied contributed 21.6% to revenue in Q3 FY21 with 5.27 lakh RTPCR tests. Normalised EBITDA (after adjustment for stock-based compensation & CSR cost) for Q3 FY21 grew 62.7% to Rs 144.60 crore as compared to Rs 88.90 crore in the same quarter last year.
Consolidated EBITDA margin improved to 32% in Q3 FY21 as against 27.1% in Q3 FY20. Consolidated profit margin also rose to 21.2% in Q3 FY21 as compared to 16.7% in Q3 FY20.
Commenting on the Q3 results, (Hony) Brig. Dr Arvind Lal, the executive chairman of Dr Lal Path Labs, has said that: "We have seen our business make further progress in returning to normalcy, and our non-COVID business has seen a sharp recovery. While COVID tests continue to be a significant contributor to our performance, we are making further inroads to grow our non-COVID business through menu expansion, deeper penetration in existing markets and selective inorganic acquisitions in newer markets. I believe this is working well for us and we remain confident to realize our growth objectives."
Speaking on the same, Bharath Uppiliappan, the chief executive officer (CEO) of Dr Lal Path Labs, stated that: "In Q3 FY21, we demonstrated encouraging performance smartly navigating through the aftermath of COVID-19 pandemic and related disruptions. The growth in this quarter is a testimony to the fact that we have fully recovered and are back on a robust growth trajectory in our Non-COVID business. Performance was driven by various initiatives undertaken by us over the past few quarters to maintain business continuity supported by demand reverting back to utmost normalcy."
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Meanwhile, the board has declared second interim dividend of Rs 6 per equity share for the FY 2020-21. The board has fixed 10 February 2021 as the record date for the purpose of payment of interim dividend. The interim dividend will be paid by the company on or before 27 February 2021.
Shares of Dr Lal Path Labs slipped 0.10% to close at Rs 2,247.35 on Friday. Dr Lal PathLabs provides diagnostic healthcare services in India.
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