 "Q2")
Diagnostic and healthcare service provider Dr Lal PathLabs posted a 54.8 per cent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the quarter concluded on September 30, 2023, reaching Rs 109.3 crore. The company also reported a 12.63 per cent increase in its consolidated revenue from operations, which came in at Rs 601.3 crore, in contrast to Rs 533.8 crore in the second quarter of financial year 24. This increase in PAT can be attributed to the reduction in financial costs and their expansion programmes.
On a sequential basis, the company exhibited an 11.1 per cent increase in revenue and the PAT increased at 32.4 per cent.
Commenting on the result, Om Manchanda, Managing Director stated: “We are seeing healthy and steady rise in DLPL’s revenue growth trends both in value and volume terms. The quarter also saw some rationality returning, where brands have taken measured price increases in their test portfolios. From focus on Tier-III and IV towns in strong markets of North and East to emphasising upon specialty and super-specialist portfolio; we have meticulously pursued growth drivers in this endeavour.”
Commenting on the performance, Bharath Uppiliappan, Chief Executive Officer said: “Our patient growth is significantly higher than our first quarter of FY 24 numbers; we served 7.5 million patients in the second quarter of FY 24 and 14.4 million patients in the first half of FY 24. Our expansion programme in Tier-III+ towns continues to show encouraging results. On the back of this response, we are planning to accelerate this journey by opening more new labs in Tier-III+ towns.”
Dr Lal PathLab's share price rose to 3.30 per cent, ending the day's trade at Rs 2,455 apiece on the BSE.
Dr Lal PathLabs is a provider of diagnostic and healthcare testing services in India. The company boasts a network of 277 clinical laboratories, 5,102 Patient Service Centres and 10,938 Pick-up Points.
