Fewer dengue cases in India's Delhi to weigh on Dr Lal Pathlabs' Q2, Nomura says

Dr. Lal PathLabs

22/10/2024 11:30

** Shares of pathology services provider Dr. Lal Pathlabs
 DLPA.NS  close up 0.4% at 3,311 rupees
    ** Nomura flags relatively fewer dengue cases in Jan-Sept,
particularly in Delhi NCR which accounted for almost a third of
DLPA's FY24 revenue
    ** Number of dengue cases in Delhi in the period was less
than half of last year, Nomura said, citing news channel ABP
live
    ** DLPA Q2 earnings due on Wednesday; Nomura expects Q2
revenue to rise 10.5% Y/Y, slower than the 11.3% growth in Q1
        ** Historically, co's Q2 rev growth is higher than Q1,
brokerage says
  
    ** Nomura rates DLPA 'buy' with Sept 2025 TP of 3,720 rupees
    ** Stock up ~29% YTD

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))