Dr Lal PathLabs Q2 Results: Net profit rises 53%YoY to Rs 111 crore
Dr Lal PathLabs on Thursday reported a 53% year-on-year (YoY) jump in net profit to Rs 111 crore in the second quarter ended September 30, 2023, led by improved volumes and measured price increases of diagnostic tests.
Dr Lal PathLabs reported a Rs 72 crore net profit during the corresponding period of the previous year.
Revenues rose 12.6% to Rs 601 crore in Q2FY24, compared to Rs 534 crore in Q2FY23.
Earnings before interest, tax, depreciation, ammortisation (EBITDA) rose 23.6% YoY to Rs 178 crore. The EBITDA margins improved 270 basis points YoY to 29.6%.
As on March 31, 2023 the company has 277 clinical laboratories, 5,102 Patient Service Centers (PSCs) and 10,938 Pick-up Points (PUPs).
“We are seeing a 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," said Dr. Om Manchanda, MD of Dr Lal PathLabs.
«I believe peak competitive intensity may be behind us.
DLPL continues to move levers in order to sustain performance momentum. From focus on Tier 3 and 4 towns in strong markets of North and East to emphasizing upon specialty and super specialist portfolio; we have meticulously pursued
growth drivers in this endeavor,» Manchanda added.
The diagnostic chain said it will continue to build the Suburban brand in key markets of the West like Mumbai, Pune and Goa, there’s a clear focus on driving topline while optimizing laboratory infrastructure between our two brands.
“Our patient growth is significantly higher than our Q1FY 24 numbers, we served 7.5 million patients in the second quarter of FY24 and 14.4 million patients in H1 of FY24," said Bharath
