Thyrocare Technologies Ltd. (THYROCARE.NS) on Wednesday reported higher revenue and profit for the third quarter of fiscal 2026, supported by rising diagnostic test volumes and improved operating efficiency.
The Mumbai-based diagnostics firm said consolidated revenue from operations rose about 18% year-on-year to nearly ₹196 crore for the quarter ended December 31, 2025. Net profit increased around 47% to about ₹28 crore, reflecting margin expansion and better cost management.
Earnings before interest, tax, depreciation, and amortization (EBITDA) grew at a faster pace than revenue, rising roughly 38% from a year earlier, as scale benefits helped offset cost pressures. Operating margins improved compared with the same period last year.
Financial Performance
Total income for the quarter stood at approximately ₹200 crore on a consolidated basis. Standalone profit was about ₹26 crore, while consolidated profit was marginally higher due to contributions from subsidiaries. The board approved the unaudited results in late January.
The company maintained a healthy balance between revenue growth and profitability, driven by higher utilization of laboratory infrastructure and stable pricing across key test categories.
Operational Trends
During the quarter, Thyrocare processed close to 50 million diagnostic tests, representing year-on-year growth of more than 20%. Growth was led by higher volumes in preventive health check-ups, routine pathology tests, and partner-led collections.
The company continued to expand its franchise and collection network, particularly in smaller cities and semi-urban markets. Revenue from partnerships and institutional clients also increased, contributing to overall volume momentum.
Home sample collection services remained a key growth driver, supported by digital booking platforms and wider service coverage.
Cost and Margin Analysis
Operating expenses rose in line with higher activity levels, mainly due to logistics, personnel costs, and investments in technology and quality systems. However, improved processing efficiency and higher throughput helped contain per-test costs.
As a result, Thyrocare reported stronger operating leverage, with EBITDA margins expanding compared with the year-ago quarter.
Management View
Management said the company remained focused on strengthening service quality, expanding partner relationships, and increasing penetration in underserved regions. It continues to invest in digital infrastructure, automation, and compliance to support long-term scalability.
The company also highlighted efforts to diversify revenue streams through deeper engagement with hospitals, insurers, and corporate clients.
Market Reaction
Shares of Thyrocare traded in a narrow range on the NSE following the results, broadly in line with movements in the broader healthcare and mid-cap indices.
Outlook
Management reiterated its strategy of prioritizing volume-led growth, network expansion, and cost discipline to navigate competitive pressures in the diagnostics sector.