Dr Lal PathLabs Q1 Results: Profit Falls Missing Estimates

Dr Lal PathLabs Ltd.’s first-quarter profit fell, missing estimates, due to lower sales and higher depreciation and amortisation expenses.

The diagnostic and healthcare testing services provider’s net profit stood at Rs 58 crore in the three months ended June, down 56% over a year earlier, according to its exchange filing. That compares with the Rs 66-crore consensus estimate of analysts tracked by Bloomberg.

Sequentially, profit was down 6%.

Q1 FY23 Highlights (YoY)

• Revenue fell 17% to Rs 503 crore, compared with the Rs 499-crore estimate.

• Ebitda was down 38% to Rs 118 crore, against the Rs 122-crore forecast.

• Margin contracted to 23.4% from 31.2% a year ago. Analysts had projected it at 24.5%.

The board of directors approved an interim dividend of Rs 6 per share at their meeting held on July 28.

Shares of Dr Lal PathLabs fell 4% post the earnings announcement, compared with a 1.8% gain in the benchmark Sensex at 1:28 p.m. on Thursday.