Diagnostics players post healthy returns on quick rebound in business

Sharp rise in non-Covid business and strong revenue growth indicated by Thyrocare, Metropolis prop up sentiment

Diagnostics companies remain in the spotlight, with their business rebounding faster after the lockdown-led disruption that impacted their April-June quarter (first quarter, or Q1) performance.

Thyrocare Technologies, on Tuesday, highlighted that the low revenue seen in Q1 has bounced back in the July-September quarter (second quarter, or Q2), with strong growth of 171 per cent over trailing quarters (up 37 per cent year-on-year). This has lifted the Street sentiment, with the stock surging nearly 38 per cent in two days.

Metropolis Healthcare, on Monday, said it had seen its Q2 revenue nearly double from the Q1 levels, and grow 25 per cent