Diagnostic company shares moved 5 percent after announcing their strong June- September results despite pricing pressure in the sector. The company’s share has delivered more than 30 percent return to its shareholders in six months.
With a market capitalization of Rs. 20,576 crores, the share of Dr. Lal PathLabs Ltd opened its Friday trading positively. The share opened at Rs. 2,471 level and went to hit a high of Rs. 2,638 making a gain of around 6 percent. The share closed its day at Rs. 2,594 apiece.
Such a positive movement was observed after the company announced its Q2 FY24 results. The revenue of the company increased by 11 percent from Rs. 541 crores during the June quarter to Rs. 601 crores in September. In addition to this, the net profit increased by around 32 percent from Rs. 82.6 crores to Rs. 109 crores keeping the timeframe the same.
Comparing these metrics on a YoY basis, the revenue increased by 12.5 percent from Rs. 533.8 crores during Q2 FY23 to Rs. 601 crores in Q2 FY24. Furthermore, the net profit zoomed by 52 percent from Rs. 71.7 crores to Rs. 109 crores during the same period.
Coming on to the important ratios, the return on equity (RoE) was at 15.8 percent during FY 22-23, and the return on capital employed (RoCE) was recorded at 20.34 percent keeping the time horizon the same.
According to the latest shareholding pattern, Promoters of the company have a 54.61 percent stake in the company, the company has a high FII holding of 24.35 percent, DIIs have 9.15 percent of shares and the remaining 11.89 percent is with Retail Investors.
Headquartered in New Delhi, Dr Lal PathsLab Ltd was established in the year 1993. The company provides diagnostic and related healthcare tests, specializing in a wide array of medical diagnostics.
Written By Vaibhav Patil
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