Dr Lal PathLabs Q1 FY24 net profit rises 44% to Rs 84 crore
Dr Lal PathLabs on Thursday reported a 44% year-on-year (YoY jump in net profit to Rs 84 crore in the first quarter ended June 30, 2023 led by growth in non-covid testing and higher realizations.Dr Lal PathLabs reported Rs 58 crore net profit during the corresponding period of previous year. Revenues rose 8% to Rs 541 crore in Q1FY24, compared to Rs 503 crore in Q1FY23.
Non-Covid revenues rose 10% YoY to Rs 528 crore in Q1FY24, Covid testing revenues stood at Rs 13 crore in the same period. Earnings before interest, tax, depreciation, ammortisation (EBITDA) rose 24.4% YoY to Rs 146 crore.
The EBITDA margins improved 360 basis points YoY to 27%. Dr Lal PathLabs said its emphasis is on improving the market penetration through franchisee model, and leveraging the digital infrastructure to drive volumes and maintain the margin trajectory.
«Our digital investments have grown manifold in the past few years largely directed towards enhancing the IT infrastructure, including the implementation of advanced technologies to drive higher volumes,» said Om Manchanda, MD of Dr. Lal PathLabs «We continue to focus on highly specialized segments of pathology testing,» Manchanda added.
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