 "Dr. Lal PathLabs hits new high; zooms 100% from issue price")
Dr. Lal PathLabs has rallied 10% to Rs 1,114 on the BSE in intra-day trade, also its highest level since listing in December last year, on the back of heavy volumes.
The stock of diagnostic chain operator has more-than-doubled compared with its initial public offer (IPO) price of Rs 550 per share. In the past two trading sessions, the stock has zoomed 21% from Rs 922 on the BSE.
The trading volumes on the counter jumped almost seven-fold with a combined 536,503 shares changed hands on the BSE and NSE till 01:14 pm.
Dr. Lal PathLabs reported 29.7% year on year (YoY) growth in consolidated net profit at Rs 40.17 crore for the quarter ended June 30, 2016 (Q1FY17), driven primarily by increasing patient volumes, samples and higher revenue realization per patient.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin expanded by 110 basis points to 27.1% YoY, due to economies of scale, the company said in a release.
Q1FY17 revenues improved 17.7% y-o-y Rs 223 crore, on the back of 15% increment in volumes and improvement in realisations. The realisation per patient has enhanced to Rs 678, up 2.4% from Rs 662 in Q1FY16. The volume growth driven by increase in patient count from all territories and efforts to grow presence into emerging regions, it added.
The stock of diagnostic chain operator has more-than-doubled compared with its initial public offer (IPO) price of Rs 550 per share. In the past two trading sessions, the stock has zoomed 21% from Rs 922 on the BSE.
The trading volumes on the counter jumped almost seven-fold with a combined 536,503 shares changed hands on the BSE and NSE till 01:14 pm.
Dr. Lal PathLabs reported 29.7% year on year (YoY) growth in consolidated net profit at Rs 40.17 crore for the quarter ended June 30, 2016 (Q1FY17), driven primarily by increasing patient volumes, samples and higher revenue realization per patient.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin expanded by 110 basis points to 27.1% YoY, due to economies of scale, the company said in a release.
Q1FY17 revenues improved 17.7% y-o-y Rs 223 crore, on the back of 15% increment in volumes and improvement in realisations. The realisation per patient has enhanced to Rs 678, up 2.4% from Rs 662 in Q1FY16. The volume growth driven by increase in patient count from all territories and efforts to grow presence into emerging regions, it added.
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