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Dr Lal PathLabs June quarter net profit declines 52% to Rs 28.4 crore

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.

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Dr Lal PathLabs | Indian companies | Diagnostics

Press Trust of India  |  New Delhi 

Dr Lal PathLabs: Street worried over rising pressures

Diagnostic services provider 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, 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," Executive Chairman Arvind Lal said.

Shares of Dr Lal PathLabs closed at Rs1,888.85per scrip on BSE, up 0.41 per cent from its previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 31 2020. 17:17 IST
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