India's Dr. Lal PathLabs slides on fall in Q3 earnings

Dr. Lal PathLabs

02/02/2023 09:25

** Shares of Dr Lal PathLabs  DLPA.NS  fall as much as 3.87%
to 1,973.05 rupees, their lowest in over six months
    ** The diagnostics and healthcare services provider reported
a drop in Q3 profit and revenue, with core profit falling ~4%
    ** COVID-19 and allied tests slumped 80% YoY and contributed
to just 2% of total rev vs 12% in yr-ago qtr
    ** Of the 20 analysts, five suggest "buy", 12 recommend
"sell" and three maintain "hold"; median TP is 2,135 rupees
    ** DLPA has been trading below its 50-. 100- and 200-day
moving avgs since Dec. 23, with the stock falling below 2,000
rupees for first time since mid-July
    ($1 = 81.6970 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))