Dr Lal PathLabs Q1 net profit declines 52 pc to Rs 28.4 cr

The company had posted a net profit of Rs 59.1 crore for the corresponding period of the previous fiscal, Dr Lal PathLabs said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 266 crore, as against Rs 335.2 crore in the year-ago period, it said adding that underlying patient volume decline was 28.4 per cent during the quarter.

Diagnostic services provider Dr Lal PathLabs on Friday reported a 51.94 per cent decline in its consolidated net profit at Rs 28.4 crore for the quarter ended June 30, 2020. The company had posted a net profit of Rs 59.1 crore for the corresponding period of the previous fiscal, Dr Lal PathLabs said in a filing to BSE.

Consolidated revenue from operations of the company stood at Rs 266 crore, as against Rs 335.2 crore in the year-ago period, it said adding that underlying patient volume decline was 28.4 per cent during the quarter. "This was a difficult quarter, not just for Dr Lal Pathlabs, but for the entire nation and the economy. Business was impacted adversely, with volumes getting hit.

"However, we are confident of things returning to normal and the business performance getting back on track in some time post normalization," Dr Lal PathLabs Executive Chairman Arvind Lal said. Shares of Dr Lal PathLabs closed at Rs 1,888.85 per scrip on BSE, up 0.41 per cent from its previous close.