Dr Lal PathLabs Q3 results: Thursday marked the announcement of Dr Lal PathLabs’ October–December quarter statistics, which showed a 54% increase in net income year over year. The company’s profit after tax (PAT) increased from ₹52.8 crore to ₹81.3 crore in the quarter that ended in December 2023.
From ₹489.4 crore to ₹539 crore during the period under review, the company’s operating revenue increased by 10%. Dr. Lal PathLabs’ net profit decreased by 25% from the previous quarter to ₹109.3 crore in September 2023. Quarterly revenue from operations decreased by 10% from ₹601.3 crore in Q2FY24. Dr Lal PathLabs’ earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 24.6% from ₹113 crore to ₹141 crore in the December 2023 quarter. The quarterly EBITDA margin was 26.1%.
Dr Lal PathLabs Q3 results: Revenue increased 10% while net profit increased 54% year over year to ₹81.3 crore.
“We are delighted to announce that we have achieved another quarter of substantial revenue growth, reaching 10.1% in Q3. Our services catered to 6.7 million patients, conducting tests on 18.6 million samples, marking a sample growth of 7.1% compared to the previous year. Significant contributions to our revenue came from key product programs like Swasthfit, accounting for 20% of our total revenue. Our initiatives, such as the Medical Centre of Excellence – LACE and LCORD, continue to strengthen our position within the medical community and among patients,” stated CEO Bharath Uppiliappan.
Furthermore, digitally enabled initiatives such as CHIPs and Recommendation engines are consistently making significant contributions to enhancing patient loyalty and engagement. Overall, we are strategically leveraging various factors to propel us toward a growth trajectory that ensures sustainable development. Our approach involves expanding our presence in underserved Tier 3 and 4 markets through the establishment of new labs, a plan that is actively progressing. To bolster this initiative, we have established a robust hub lab network. With a substantial opportunity size in sight, we are making focused investments to solidify our position and reach a larger number of patients.
On Thursday, Dr Lal PathLabs’ shares were up 0.19% at ₹2,522.15.
