Revenue from operations jumped by 26% year-on-year (YoY) to Rs 155.5 crore in the quarter ended 30 September 2023.

EBITDA improved by 4% to Rs 32.3 crore in Q2 FY24 from Rs 31 crore recorded in Q2 FY23. EBITDA margin stood at 21% in Q2 FY24 as compared with 25% in Q2 FY23.

Profit before tax in Q2 FY24 stood at Rs 13.41 crore, down by 33% from Rs 20.16 crore in Q2 FY23.

Yash Mutha, whole time director, said: “Throughout the first half of FY2024, Krsnaa achieved an exceptional 25% year-on-year growth, resulting in core revenues amounting to Rs 2,950 million. A notable shift was observed as Covid-19 revenues, which were at Rs 6 million in H1 FY23, ceased entirely in H1 FY24.

Regarding our financials, our normalized EBITDA reached Rs 738 million, accompanied by margins of 25%. Normalized Net Profit amounted to Rs 349 million, with margins at 12%. However, In Q2 FY24 our reported EBITDA margin was at 21%, and net profit margins were at 7%.

It is important to acknowledge that our profitability margins were impacted in comparison to the previous quarter. This impact can be attributed to the additional costs incurred in on-boarding teams for the operation and management of our newly established centers. We anticipate a positive trajectory in margins as these centers mature over the upcoming quarters.”

Krsnaa Diagnostics is a differentiated diagnostic service provider in India. It provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres across India.

The scrip rose 2.89% to settle at Rs 719.55 on Friday on the BSE.