The diagnostic and healthcare services company Dr Lal Pathlabs released its consolidated net profit for the three months ending in June 2023 on Thursday. This represents an increase of 43.6% year over year (YoY).
In the same quarter the year before, the company’s net profit was ₹58.2 crore.
The combined revenue of Dr Lal Pathlabs in the first quarter of FY24 climbed 7.6% year over year to ₹541 crore.
Operatingly, EBITDA (profits before interest, taxes, depreciation, and amortisation) increased by 24.4% to ₹146.2 crore in the first quarter of FY24 from ₹117.5 crore the previous quarter.
EBITDA margin for the company increased 360 basis points (bps) year over year from 23.4% to 27%.
The board of directors of Dr Lal Pathlabs announced an interim dividend for FY24 of 6 rupees per equity share, or 60% of the face value of 10 rupees per share.
August 11, 2023 is the record date for the purpose of paying the interim dividend.
Additionally, subject to approval by the company’s shareholders at the 29th Annual General Meeting (AGM), the board of directors of the company approved the appointment of Gurinder Singh Kalra and Rajit Mehta as Additional Directors in the category of Independent Directors of the Company for a term of three years beginning on July 27, 2023.
The share price of Dr Lal Pathlabs increased by more than 2% in response to the company’s Q1 results.
At 3:00 pm, Dr. Lal Pathlabs’ shares were trading 2.47% higher on the BSE at ₹2,475.00 per share.
When the business was first formed in 1949 by the late Dr. Major SK Lal, it offered pathology services and ran a blood bank. With 250 doctors and more than 1800 employees, it has a network of 231 clinical laboratories, 3705 PSCs, and 9247 PUPs.
