Thyrocare Technologies shares soar nearly 17% as Q1 results impress D-Street
Thyrocare Technologies shares jumped 16.75% to their fresh all-time highs of Rs 759 on the BSE after the company posted 46% YoY jump in profit after tax to Rs 24.7 crore for the first quarter ended June 2024.
The company’s consolidated revenue has increased 16% year-on-year to Rs 157 crore for the first quarter of FY25 while the gross margins stood at Rs 100.7 crore, up from Rs 87.7 crore in the corresponding quarter of the previous year. This is an increase of 15% YoY.
Thyrocare’s pathology and radiology segments’ revenues grew 16% and 15% YoY, respectively. Meanwhile the revenue from partnerships surged 29% YoY and franchise revenue saw an increase of 11% YoY.
Consolidated reported EBITDA for the quarter grew by 21% YoY while the standalone reported EBITDA rose by 25% YoY.
Also read: United Spirits shares rally over 6% on solid Q1 results
Thyrocare is India's first fully automated diagnostic laboratory with a focus on providing quality at affordable costs to laboratories and hospitals in India and other countries. The company became one of the first Indian diagnostic laboratories to obtain internationally renowned quality accreditations like ISO 9001-2000 rating as early as 2001, which is now escalated to ISO 9001:2015 and CAP (College of American Pathologists) certification in 2007.
The shares of Thyrocare Technologies have increased 27.5% in the last one year while in the current calendar year, the stock has gained 14.5%. In the last 6 and 3 months, the stock has gone up by 20% and 30%, respectively.
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