Lal PathLabs slips after Q3 PAT falls nearly 8% YoY; EBITDA at Rs 122 crore

Dr. Lal PathLabs fell 1.47% to Rs 2022.60 after the company reported 7.9% fall in net profit to Rs 54 crore on a 1.5% decline in revenue to Rs 489 crore in Q3 FY23 over Q3 FY22.

Non-Covid revenue was Rs 478 crore (up 9.1% YoY) and Covid & Allied revenue was Rs 11 crore (down 80.4% YoY) during the period under review. Covid and Allied contributed 2% to revenue in Q3 FY23 as against 12% in Q3 FY22

Normalised EBITDA rose by 2.8% to Rs 122 crore in Q3 FY23 from Rs 119 crore in Q3 FY22. Normalised margins were at 24.9% in Q3 FY23 as against 23.9% in Q3 FY22.

Profit before tax in Q3 FY23 stood at Rs 76 crore, down by 6.2% from Rs 82 crore in Q3 FY22.

Dr. Om Manchanda, managing director, said: We continue to focus on geographical expansion and strengthen our presence in Tier 2, Tier 3 towns. Our focus continues to take higher market share in West and South markets by leveraging technology and promoting high end super specialty test portfolio.

Bharath Uppiliappan, chief executive officer said: "During the quarter under review, we served 6.5 million patients registering a total revenue of Rs. 489 crore. Non-Covid revenue registered a growth of 16% on YTD basis.

We have significantly scaled up our activations for L-CoRD which is our Center of excellence for Reproductive diagnostics. During Q3 we organized 500+ activities across India on a single day, which is an achievement in itself.

Our bundled test program - SwasthFit's continues to do well and it's contribution continues to be in the range of 19-20%."

Dr. Lal PathLabs is a provider of diagnostic and related healthcare tests and services in India. The company offer patients and healthcare providers a broad range of diagnostic and related healthcare tests and services for use in core testing, patient diagnosis and the prevention, monitoring and treatment of disease and other health conditions. As on 31 March 2022 the company has 277 clinical laboratories, 4,731 patient service centers (PSCs) and 10,599 pick-up points (PUPs).

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