Dr Lal PathLabs reacts negatively to quarterly results; ends 1.63 per cent lower
Dr Lal PathLabs announced its financial results for quarter ending September 2020 today.
Non-COVID business was back to 98 per cent of last year levels in Q2FY21. Revenue increased in Q2FY21 by 18.2 per cent to Rs 431.9 crore from Rs 365 crore last year during the same quarter. The reason for this increase was attributed to the volume increase of 1.1 per cent along with revenue from COVID-19 testing. COVID testing business contributed nearly 17 per cent of the revenue. The company also witnessed better realisation per patient in Q2FY21, which stood at Rs 803, compared to Rs 687 in Q2FY20.
Normalised operating EBITDA (after eliminating the impact of stock-based compensation & CSR costs) stood at Rs 134.7 crore in Q2FY21, showing an increase of 18.7 per cent YoY. Profit after tax for the September quarter stood at Rs 87.1 crore as compared to Rs 81.0 crore in Q2FY20, higher by 7.5 per cent YoY. The company saw a reduction in PAT margin, which stood at 20.2 per cent in Q2FY21 as against 22.2 per cent during the same quarter last year. Besides, the board has also approved an interim dividend of Rs 6 per share.
The stock reacted negatively to the result. Its intraday high of Rs 2,311 was lower than the previous day close of Rs 2,311.05. The stock traded below its previous closing throughout the day. It ended 1.63 per cent lower today at Rs 2,273.40 after reaching an intraday low of Rs 2,253.05.