Revenue from operations increased by 10.11% to Rs 538.9 crore in the quarter ended 31 December 2023 as compared to Rs 489.4 crore recorded in Q3 FY23.

Profit before tax soared 103.79% to Rs 115.9 crore in the December quater from Rs 76.5 crore posted in the corresponding quarter last year.

EBITDA stood at Rs 141 crore in Q3 FY24, registering a growth of 24.6% YoY. EBITDA margin improved to 26.1% in Q3 FY24 as against 23.1% posted in Q3 FY23.

On 9-months basis, the company's net profit surged 49.95% YoY to Rs 273.2 crore on 10.24% rise in revenue to Rs 1682.1 crore in 9M FY24 over 9M FY23.

Dr. Arvind Lal, executive chairman of Dr. Lal Pathlabs said, ” Our performance going ahead will be guided by expanding our presence in underpenetrated tier 3 and 4 markets, coupled with a targeted focus on high-potential markets in the West and South region. This is in addition to extensively utilizing our digital infrastructure where we have made investments across AI, data analytics, machine learning etc.”

Dr. Om Manchanda, managing director of Dr. Lal Pathlabs stated, “Our business has delivered double digit top-line growth rates on YOY basis both in the current quarter as well as on YTD basis. We have significantly improved our operating and net margins profile driving by efficiencies of scale and productivity driven initiatives. Efforts continue to look for expansion in tier III and tier IV towns through organic means of growth. Our team has carefully identified pockets and the markets that will drive future growth.

Industry experienced bundling of routine tests as a new consumer trend. We led this trend and successfully built a brand SwasthFit. The revenue contribution from SwasthFit has now stabilized ranging between 19-21%. Our investments in technology and digital at the infrastructure level, at the front end and in interactions with patients, are translating into salience. We are also pushing ahead with the Suburban brand in chosen geographies while meticulously executing a network and test menu expansion agenda.”

Bharath Uppiliappan, chief executive officer, Dr. Lal Pathlabs said, “We have delivered yet another quarter of double digit revenue growth of 10.1% in Q3, serving 6.7 million patients & testing 18.6 million samples representing a sample growth of 7.1 % over last year.

In addition digitally enabled initiatives like CHIPs & Recommendation engine continue to make meaningful contribution in enhancing patient loyalty and stickiness. Overall, we are moving the right levers to optimally set a growth trajectory that will give us sustainable growth.

Meanwhile, the company's board has declared an interim dividend of Rs 12 per equity share for the financial year 2023-24. The record date for the dividend is fixed on Tuesday, 13 February 2024.

Dr. Lal PathLabs is a provider of diagnostic and related healthcare tests and services in India. The company offer patients and healthcare providers a broad range of diagnostic and related healthcare tests and services for use in core testing, patient diagnosis and the prevention, monitoring and treatment of disease and other health conditions. As on 31 March 2023 the company has 277 clinical laboratories, 5,102 patient service centers (PSCs) and 10,938 pick-up points (PUPs).