Q2 figures for Dr Lal PathLabs show a 52.4% increase in net profit at Rs 109.3 crore

 Q2 figures for Dr Lal PathLabs show a 52.4% increase in net profit at Rs 109.3 crore

Results for Dr. Lal Pathlabs' Q2: For the June quarter, the business declared a combined net profit of ₹83.6.

On November 2, diagnostics company Dr. Lal PathLabs announced a 52.4 percent year-over-year increase in consolidated net profit for the current financial year's July–September quarter, coming in at Rs 109.3 crore.

For the same time last year, the business declared a profit of Rs 72.4 crore.

The outcomes of our growth effort in Tier 3+ municipalities are still promising. We are aiming to speed up this journey by building additional new laboratories in Tier3+towns as a result of this reaction, said Chief Executive Officer Bharath Uppiliappan in a news release.

Revenue for the quarter was Rs 601 crore, up 12.6 percent from Rs 533.8 crore in the same period last year. In Q2 FY24, revenue (without RTPCR) climbed by 14.4%.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the firm increased to Rs 177.8 crore from Rs 143.8 crore in the same period last year. Compared to the same time last year, when the EBITDA margin was 26.9 percent, it was 29.6 percent.

DLPL keeps pulling levers to maintain performance momentum. We have carefully followed growth drivers in this effort, from focusing on Tier 3 and 4 towns in strong markets in the North and East to highlighting specialized and super specialist portfolio. We are still developing suburban areas in important West Indian markets like Mumbai, Pune, and Goa. Our two brands' laboratory infrastructure is optimized while driving top line growth, as stated in a news release from Managing Director Dr. Om Manchanda.

In the first half of FY 24, the firm processed over 40 million samples, serving 1.4 million patients. When compared to Q2 of FY 23, the company's cash position increased by 86% to Rs 780 crore this quarter.

Following the release of the results, the company's shares increased 2.19 percent on the NSE at 1:56 pm, trading at Rs 2,432.85.