Dr. Lal PathLabs Ltd's Q1FY19 consolidated net profit rises 11.94% yoy to Rs49.70cr: Misses Estimates

The company’s consolidated revenue stood at Rs292.30cr, up 17.25% yoy and 9.56% qoq.

Aug 10, 2018 09:08 IST India Infoline Research Team

Dr. Lal PathLabs Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 292.30 17.2
EBITDA 75 14.5
EBITDA Margin (%) 25.7 [61]
Net Profit (adjusted) 49.70 11.9
***EBITDA margin change is bps

Dr Lal Pathlabs’ revenue in Q1FY19 grew 17.2% yoy to Rs292.3cr. EBITDA in Q1FY19 rose 14.5% yoy to Rs75cr vs. Rs65.5cr in Q1FY18. EBITDA margins in Q1FY19 stood at 25.7% vs. 24% in Q4FY18 and 26.3% in Q1FY18. PAT in Q1FY19 increased by 11.9% yoy to Rs49.7cr vs. Rs44.1cr in Q1FY18.
  • COGs grew 23.2% yoy to Rs64.2cr in Q1FY19. COGs as % of sales stood at 22% in Q1FY19 vs. 21.6% in Q4FY18 and 20.9% in Q1FY18.
  • Employee cost grew 13.3% yoy, while other expenses rose 17.7% yoy in Q1FY19.
  • Depreciation in Q1FY19 stood at Rs8.8cr in Q1FY19 vs. Rs6.9cr in Q1FY18.
  • Tests per patient grew from 2.21 in Q1FY18 to 2.34 in Q1FY19.
  • Realization per patient was flat at Rs691 in Q1FY19 vs Rs694 in Q1FY18 due to price rationalization in select markets and product offerings.
  • Cash, FDs, and Liquid Investments in Q1FY19 stood at Rs608.5cr vs. Rs550.6cr in Q4FY18.

Technical View:

Dr Lal Pathlabs Ltd is currently trading at Rs. 908, down by 33 points or 3.51% from its previous closing of Rs. 941 on the BSE.
The scrip opened at Rs. 945 and has touched a high and low of Rs. 975 and Rs. 895.30 respectively. So far 1,61,910 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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