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Thyrocare Technologies spurts after good Q3 operational update

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Thyrocare Technologies gained 2.02% to Rs 979.25 after the company said it saw a significant business revival in Q3 of the current financial year after business resumed across all states.

The company said that the non-covid business in particular is showing growth after end of the festive season with marketing campaigns launched to promote preventive care health packages showing promising results.

A revival of business, coupled with aggressive marketing across all the territories, has enabled the firm to achieve about 34% year-on-year growth in the Q3 FY2021.

The COVID RTPCR tests continued to contribute in terms of volumes of tests performed in Q3, with increased capacity at Delhi, enabling the company to reduce the Turn Around Time (TAT) in northern regions.

The company said it continued to engage with various state governments, municipal corporations, corporates, for being the one point most cost efficient service providers to their patients, in their fight against COVID-19.

Thyrocare Technologies operates a chain of diagnostic and preventive care laboratories. Its consolidated net profit surged 22.8% to Rs 43.05 crore on a 31.8% rise in net sales to Rs 153.25 crore in Q3 December 2020 over Q3 December 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 12 2021. 11:59 IST