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Dr Lal Pathlabs' quarterly profit falls by one fourth as COVID-related revenue shrinks

Dr Lal Pathlabs' quarterly profit falls by one fourth as COVID-related revenue shrinks

Dr Lal Pathlabs' quarterly profit falls by one fourth as COVID-related revenue shrinks
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By Sandeep Singh  Nov 8, 2022 7:38:59 PM IST (Published)

Dr Lal Pathlabs reported a 7.1 percent increase in revenue to Rs 533.8 crore for the July-September period compared with the corresponding quarter a year ago.

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Dr Lal Pathlabs on Tuesday reported a net profit of Rs 72.4 crore for the July-September period, down 24.8 percent compared with the corresponding period a year ago. The share of COVID-related operations shrank to 3.7 percent from 10.1 percent in the three-month period compared to the year-ago quarter.
The diagnostic company's total revenue increased 7.1 percent on a year-on-year basis to Rs 533.8 crore, according to a regulatory filing.
Revenue from non-COVID operations increased 14.8 percent on year to Rs 514 crore, and that from COVID and the allied services slumped 61.3 percent to Rs 19.6 crore.
The company's EBITDA margin — or the degree to which a business earns money — came down to 26.4 percent in the July-September period from 28.4 percent in the year-ago period.
Revenue in the six months to September 2022 came in at Rs 1,036.5 crore, as against Rs 1,105 crore for the year-ago period.
Dr Lal said the results for the six-month period were not strictly comparable with the year-ago period due to the resurgent COVID·19 wave in the April-June period.
Dr Lal Pathlabs shares ended higher by Rs 46 or 1.8 percent at Rs 2,625.6 apiece on BSE.
Dr Lal Pathlabs shares have rewarded investors with a return of 10.6 percent in the past one month — a period in which the Nifty50 benchmark has gained five percent of value.
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