India's Dr. Lal PathLabs falls on Q4 profit slide

Dr. Lal PathLabs

11/05/2023 10:18

** Shares of Dr. Lal PathLabs Ltd  DLPA.NS  fall as much as
3.2% to 1,888.10 rupees, marking their sharpest intraday pct
loss since March 20
    ** Diagnostics and healthcare services provider reports a
7.5% fall in March-qtr consol net profit on slide in income from
Covid segment
    ** Rev from its Covid and allied segment down 83.4%; EBITDA
margins shrink to 23.6% from 24.9% a year earlier
    ** Rev from ops up marginally by 1.1%; total expenses rise
1.9%
    ** Shares hit their lowest since April 24
    ** Stock trading below its 100-, and 200-day moving averages
    ** More than 375,730 shares change hands by 2:35 p.m. IST,
2.3x the 30-day avg of 165,925 shares
    ** Five of 20 analysts covering the stock have a "buy" or
higher rating, four have "hold" while 11 rate it at "sell" or
lower; median PT is 2,000 rupees - Refinitiv data
    ** Stock down 13.7% so far this year, up to last close



($1 = 81.7800 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))