Dr Lal PathLabs recorded a decline of 7.5 per cent, reporting a net profit of Rs 56.7 crore in the quarter ended in March 2023, compared to Rs 61.3 crore in the same quarter last year.
In the fourth quarter of the fiscal year 2022-23, the company’s operating revenue saw a slight increase of 1.1 per cent, reaching Rs 491 crore, which is higher than the Rs 485.5 crore recorded in the same period last year. Non-covid revenue went up by 14.4 per cent in Q4 of FY23 and 15.5 per cent in FY23.
In terms of operations, earnings before interest, depreciation and amortisation (EBITDA) declined by 4.5 per cent from Rs 121.1 crore to Rs 115.6 crore, meanwhile, the EBITDA margin also contracted by 140 basis points to 23.5 per cent from 24.9 per cent.
The board of directors recommended a final dividend of Rs 6 per equity share, which means 60 per cent of the face value of INR 10 per share for the year ended 31 March 2023, subject to the approval of the shareholders.
For the financial year of 2022-23, Dr Lal PathLabs’ revenue from operations stood at a decline of 3.3 per cent, to Rs 2,016.9 crore, from Rs 2,087.4 crore in FY2021-22.
Net profit for the year also declined by 30.7 per cent to Rs 238.9 crore from Rs 344.8 crore in FY2022.