Dr Lal Pathlabs shares plummet over 8 per cent after Q2 results: Check brokerage report
Dr Lal Pathlabs share price: On NSE, at closing, the stock traded in red at Rs 2,414 which was down by 8.05 per cent.
Dr Lal Pathlabs share price: Indian service provider of diagnostics and related healthcare tests, Dr Lal Pathlabs’ share fell more than 8 per cent as company’s Profit After Tax (PAT) declined by 25 per cent at Rs 72 crore as compared to Rs 96 crore in the corresponding quarter of the previous year.
On NSE, at closing, the stock traded in red at Rs 2,414 which was down by 8.05 per cent.
Brokerage have given mixed reviews for Dr Lal Pathlabs
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Dr Lal Pathlabs Q2 results:
Dr Lal Pathlabs recorded a total expense of Rs 440 crore, which was up by 15.1 per cent.
The margins were also down to 26.9 per cent from 28.4 per cent YoY.
Profit Before Tax (PBT) was Rs 102.8 crore, down by 21.3 per cent as compared to Rs 130.6 crore in the corresponding quarter of the previous year.
The share of revenue from COVID and allied business slumped to just 3.7 per cent from 10.1 per cent YoY.
Dr Lal Pathlabs recorded a YoY revenue of Rs 533.8 crore as compared to the same quarter of last year which was at Rs 498.4 crore, up by 7.1 per cent.
Its Earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 1.6 per cent at Rs.143.8 crore from 141.5 crore in the corresponding quarter of the previous year.
Dr Lal Pathlabs said that it recorded a Non-Covid Revenue of Rs. 514.2 crore as compared to Rs 447.9 crore in Q2 FY22, up by 14.8 per cent.
"Instead of increasing the test prices, we are focusing on driving volumes to achieve scale benefits, thereby maintaining our margins," said Dr Lal Pathlabs in the regulatory filing.
The firm would continue to invest in expanding to smaller towns and cities across the country, Executive Chairman Arvind Lal said.
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