Vijaya Diagnostic Q2 PAT up 5% YoY on lower depreciation and finance charges

Vijaya Diagnostic Centre reported 5% rise in consolidated net profit to Rs 27.71 crore as revenue from operations remained flat at Rs 112.71 crore in Q2 FY22 over Q2 FY21.

Non-COVID revenue was up by 22% YoY to Rs 104.3 crore and COVID revenue (RT-PCR & Antibody tests) declined 70% YoY to Rs 8.4 crore during the quarter.

EBITDA in Q2 FY22 was Rs 51.15 crore. The company had reported an EBITDA of Rs 51.29 crore in Q2 FY21.

EBITDA margin in the second quarter was 45.4% as against 45.3% in the same period last year.

Depreciation and amortization expense fell 9% YoY to Rs 12.48 crore and finance costs declined by 9% YoY to Rs 3.94 crore during the period under review.

Profit before tax in Q2 FY22 stood at Rs 37.89 crore, up by 7% from Rs 35.56 crore in Q2 FY21.

Suprita Reddy, CEO said, In the first half of current fiscal, we have opened 5 new centres to service our customers. Our operating revenue stood at Rs. 2,354 Mn in H1FY22; a growth of 43% YoY and EBITDA at Rs. 1,080 Mn with a growth of 66% YoY. We have seen a strong growth in our non-COVID business during this period.

Our strategy is to deepen our presence in core geographies and focus on under-penetrated markets by opening diagnostic centres through owned & franchisee model.

Vijaya Diagnostic offers comprehensive range of diagnostic services from Basic pathology to high-end radiology. It has an extensive operational network, which consists of 85 diagnostic centers and 11 reference laboratories across 14 cities and towns in the states of Telangana and Andhra Pradesh and in the National Capital Region and Kolkata.

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