India's Dr. Lal PathLabs slumps over 5% on Q2 profit fall

Dr. Lal PathLabs

09/11/2022 04:15

** Shares of Indian healthcare and diagnostics services
company Dr. Lal Pathlabs Ltd  DLPA.NS  fall as much as 5.2% to
2,488.00 Indian rupees
    ** Co reports a 24.5% Y/Y fall in Sept-quarter consolidated
net profit at 717 mln rupees ($8.80 mln), as a decline in
revenue and volume from its COVID-19-related business and higher
expenses weighed on margins
    ** Co misses analysts' estimates of 769.8 million rupees,
according to Refinitiv data    
    ** Revenue from operations was 5.34 bln rupees from 4.98 bln
rupees a year ago
    ** Earnings margin before interest, taxes, depreciation, and
amortisation fell to 26.9% from 28.4%
    ** Stock sees biggest pct loss since Oct. 3
    ** More than 54,000 shares traded, 0.2x times their 30-day
moving avg of 265,658
    ** Nine of the 20 analysts covering the stock have a "buy"
or higher rating, three have "hold" while eight rate it at
"sell" or lower; median PT is 2,214.00 rupees - Refinitiv data
**  ** Up to last close, DLPA down 31.3%% YTD, against the Nifty
Pharma index  .NIPHARM  which fell ~7%    
($1 = 81.4600 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))