Thyrocare Tech stock skyrockets 17% post Q1FY25 results; details here

Thyrocare Technologies stock surged up to 16.75 per cent at Rs 759 per share on the BSE in Wednesday's intraday trade

Thyrocare Technologies stock surged up to 16.75 per cent, hitting its 52-week high at Rs 759 per share on the BSE in Wednesday’s intraday trade. This came after the diagnostic company delivered strong financial performance in the April-June quarter of financial year 2024-25 (Q1FY25).

The company’s net profit grew 38.2 per cent year-on-year (Y-o-Y) to Rs 23.9 crore, up from Rs 17.3 crore in the corresponding period last year.

Thyrocare's revenue from operations also saw a growth of 16 per cent Y-o-Y, rising to Rs 156.9 crore compared to Rs 134.9 crore in Q1FY24.

At an operational level, too, Thyrocare achieved an earnings before interest, taxes, depreciation, and amortisation (Ebitda) of Rs 42.7 crore, up 23.4 per cent compared to Rs 34.6 crore in the corresponding quarter last year. 

 

The diagnostic company’s pathology revenue grew by 16 per cent Y-o-Y, while the Franchise revenue grew by 11 per cent. 

"Our strategy remains to be a B2B service provider with an affordable value driven model based on scale efficiencies," it said in the investor presentation. The company plans go deeper into India with focused test menu to grow it franchise business ans strengthening its existing franchise network with focus on large service providers.

The company also informed that its acquisition of Punjab-based Polo Lab is expected to close by end of July 2024. This will allow the diagnostic company to expand its footprint in North India. 

Thyrocare Technologies is an Indian diagnostic firm headquartered in Navi Mumbai. As of June 2024, the company has 29 labs across Pan India and 1 lab in Tanzania.

Thyrocare has a total market capitalisation of Rs 3,982.57 crore, according to BSE. The company’s shares are trading at a price to earnings multiple of 48.39 times with an earning per share of Rs 13.43.

At 01:30 PM; the shares of the diagnostic company were trading 15.69 per cent higher at Rs 752.10 per share on the BSE. By comparison, the BSE Sensex was down 0.67 per cent at 79,892 levels.