Dr Lal Path Labs Ltd (NSE:LALPATHLAB) is a leading diagnostic services provider in India. The company was founded in 1949 by Dr. S.K. Lal and is currently headquartered in New Delhi, India. Dr Lal Path Labs operates a network of over 200 clinical laboratories, more than 2,600 patient service centers, and over 7,000 pickup points across India, Nepal, and Bangladesh. The company offers a wide range of diagnostic and related healthcare tests and services, including pathology, radiology, and cardiology tests.
Dr. Lal Pathlabs Ltd, released its Q3FY23 financial results. The report shows that the company’s non-COVID revenue grew by 9.1% in Q3FY23, reaching Rs 478 crore compared to Rs 438 crore in Q3FY22. However, the total revenue declined by 1.5% in Q3FY23, reaching Rs 489 crore compared to Rs 497 crore in Q3FY22. The COVID and allied segment contributed only 2% to the revenue in Q3FY23, while it contributed 12% in Q3FY22.
Dr. Lal Pathlabs’ normalized earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted for stock-based compensation and corporate social responsibility, was Rs 122 crore in Q3FY23, with a margin of 24.9%, compared to Rs 119 crore in the same quarter the previous year. Normalized profit before tax (PBT) was Rs 89 crore in Q3FY23, with a margin of 18.2%, compared to Rs 90 crore in the same quarter last year. The normalized profit after tax (PAT) was Rs 66 crore in Q3FY23, with a margin of 13.5%, which is the same as the previous year’s Q3. The company reported a consolidated profit after tax of Rs 54 crore, a 7% decline from the same quarter the previous year, where it reported a net profit of Rs 58 crore. The revenue for the December quarter also decreased to Rs 489 crore compared to Rs 497 crore in the previous year’s Q3.
In conclusion, Dr. Lal Pathlabs’ Q3FY23 results showed that while the non-COVID revenue grew, the total revenue declined, and the company’s consolidated profit after tax decreased compared to the same period last year. However, the normalized EBITDA and PBT remained steady.