Dr Lal PathLabs on Thursday released its fiscal second quarter earnings with profit at Rs 109.30 crore, up 52.4 per cent in comparison to Rs 71.70 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 601.30 crore, up 12.6 per cent as against Rs 533.80 crore during the quarter ended September 2022. The company EBITDA stood at Rs 177.8 crore, up 23.6 per cent on-year.
Bharath Uppiliappan, Chief Executive Officer, Dr Lal PathLabs, said, “We reported robust quarter of revenue and profit growth while making good progress to our strategic growth agendas. Our patient growth is significantly higher than our Q1FY24 numbers, we served 7.5 million patients in the second quarter of FY24 and 14.4 million patients in H1 of FY24.”
“Our D2C Program across all geographies including suburban has begun to gain traction and so has our Key Account Management program. Our expansion program in tier 3+ towns continues to show encouraging results. On the back of this response, we are planning to accelerate this journey by opening more new labs in tier 3+ towns. Overall, we are moving the right levers to optimally set a growth trajectory that will give us sustainable growth,” he added.
Meanwhile, Dr Om Manchanda, Managing Director, Dr Lal PathLabs, said, “We are seeing a healthy and steady rise in DLPL’s revenue growth trends both in value and volume terms. 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. We continue to build Suburban 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. Investments in IT infrastructure, both at the front end and on the operating side, are supporting our brand franchise to move forward. Going ahead, we see an expanding role for us to bring quality diagnostics to the larger population of the country.”
Dr Lal PathLabs has 277 clinical labs (including National Reference Lab at Delhi and Regional Reference labs at Kolkata, Bangalore and Mumbai), 5102 Patient Service Centers (PSCs) and 10,938 Pick-up Points (PUPs). It has a catalogue of 481 test panels, 2763 pathology tests and 1947 radiology and cardiology tests.