Dr Lal PathLabs on Thursday posted fiscal first quarter profit at Rs 82.60 crore, up 43.2 per cent on-year as against Rs 57.70 crore during the first quarter of FY23. It posted revenue from operations at Rs 541 crore, up 7.6 per cent in comparison to Rs 502.70 crore during the corresponding quarter of last year. Its non-Covid revenue, meanwhile, increased by 9.7 per cent in the first quarter. The company’s normalised EBITDA margin for Q1FY24 stood at 28.4 per cent and PAT margin was 15.4 per cent. Dr Lal PathLabs clocked a total income of Rs 555.40 crore during Q1FY24, up 8.7 per cent from Rs 511 crore last year. However, total expenses during the quarter was at Rs 437.90 crore, up 1.9 per cent as against Rs 429.60 crore during the year ago quarter.
The company also announced an interim dividend of Rs 6 per equity share, that is, 60 per cent on a face value of Rs 10 per share for FY 2023-24. The record date for the purpose of payment of interim dividend shall be August 11, 2023, it said.
Talking about the shift of market share from unorgnised to organised sector, Dr. Om Manchanda, Managing Director, Dr Lal PathLabs, said, “Our omnichannel focus is further accelerating this shift as we seamlessly transport samples and deliver reports conveniently with best-in-class patient experience. 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.”
In Q1 FY24, Dr Lal PathLabs served 6.9 million patients generating a revenue of Rs 541 crore. “This was largely led by sample growth of 6 per cent and higher realization,” said Bharath Uppiliappan, Chief Executive Officer, Dr Lal PathLabs.
The company is creating variants of common tests like Lipid profile and making it medically more relevant to sub segments of patients like diabetics and heart related ailments, said Bharath Uppiliappan.