Dr. Lal PathLabs fell 2.34% to Rs 2081.30 after the company reported 56.8% drop in consolidated net profit to Rs 57.7 crore on a 17.1% fall in revenue from operations to Rs 502.7 crore in Q1 FY23 over Q1 FY22.
Profit before tax in Q1 FY23 stood at Rs 81.4 crore, down by 54.6% from Rs 179.3 crore in Q1 FY22.
Expenditure declined by 7.8% to Rs 385.2 crore in Q1 FY23 over Q1 FY22.
EBITDA fell by 37.8% to Rs 117.5 crore in Q1 FY23 from Rs 189 crore in Q1 FY22. EBITDA margin in Q1 FY23 was 23.4% as against 31.2% in Q1 FY22.
Net cash and cash equivalents was at Rs 436 crore as on 30 June 2022.
Dr. Om Manchanda, managing director, said: In the long run the market share transfer from the unorganized to the organized sector will accelerate due to a change in industry patterns.
We continue to focus on expanding our reach, bringing innovation and execution focus in our services. Further with the reversion to pre-pandemic growth, there is room for inorganic expansion and we are wholly geared to utilize our service quality and network effect to enhance our operating footprint.''
Bharath Uppiliappan, chief executive officer, stated: In the non-covid business, we realized 24.9% of growth Q-o-Q basis. We continue to drive programs around South geography, Swasthfit and Super Specialty.
As leaders in diagnostic industry we have taken upon the task of establishing India's first center of excellence for Autoimmunity L-ACE. This initiative combined with our focus on genomics to further strengthen our position in Super Specialty
Dr. Lal PathLabs is a provider of diagnostic and related healthcare tests and services in India. As on March 31, 2022 the company has 277 clinical laboratories, 4,731 Patient Service Centers (PSCs) and 10,599 Pick-up Points (PUPs).
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