Dr Lal PathLabs reports net profit of Rs 31 crore in Q3 FY17

Mumbai: Dr Lal PathLabs Ltd today reported 49.3 per cent decline in net profit at Rs 31 crore for the quarter ended December 2016 as compared to Rs 61.1 crore in the same period last year. The PAT numbers are not strictly comparable for Q3 as previous year had an ESOP reversal of Rs 44 crore in Q3 last year, a company statement said here.

The company's operating revenue increased by 10 per cent Y-o-Y to Rs 207.5 crore in Q3 FY 17 as compared to Rs 188.6 crore in the same period last year. Normalised EBITDA increased by 10.1 per cent Y-o-Y to Rs 47 crore from Rs 42.7 crore in the same quarter last year, after adjusting for ESOP provisions/reversals in previous year financials. In the 9-month period ended December 2016, the company's net profit increased by 25.8 per cent at Rs 124 crore from Rs 98.5 crore in the corresponding period last year.

The operating revenue also increased by 16.7 per cent at Rs 692.5 crore in the 9-month period of FY 17. The Board at its meeting today has recommended an interim dividend of Rs 1.30 per share of Rs 10 each for FY17. Dr Lal PathLabs is a leading diagnostic and related healthcare service provider having national, "hub and spoke" network that includes its National Reference Laboratory in New Delhi, 171 other clinical laboratories, 1,559 patient service centers and nearly 5,000 pickup points.