Dr Lal PathLabs Q1 net profit zooms nearly 5-fold to Rs 133.7 crore

NEW DELHI: Diagnostic services provider Dr Lal PathLabs on Friday reported a nearly five-fold jump in consolidated net profit to Rs 133.7 crore for the quarter ended June 30, mainly on account of robust business growth.

The company had posted a net profit of Rs 28.4 crore for the corresponding period of the previous fiscal, Dr Lal PathLabs said in a regulatory filing.

Its consolidated revenue from operations stood at Rs 606.6 crore for the quarter under consideration. It was Rs 266 crore a year ago, it added.

The non-COVID business revenue was Rs 386 crore in Q1 FY22, the filing said.

“First quarter of FY2022 was a disruptive phase for businesses, owing to the sharp resurgence of the second wave,” Dr Lal PathLabs MD Om Manchanda said.

In addition to the gold standard RT PCR and antibody tests employed for confirmatory diagnosis, “we witnessed an upsurge in Covid allied tests. Momentum in non-Covid testing continued, barring a few hotspot areas, which registered high caseloads,” he added.

An interim dividend of Rs 6 per equity share of Rs 10 each has been approved by the Board, the filing said.

Shares of Dr Lal PathLabs were trading at Rs 3,956.55 per scrip on BSE, up 6 per cent from its previous close.