Dr Lal PathLabs posts higher quarterly profit on strong diagnostic test demand

The Indian lab operator's consolidated net profit for the three months ended September 30 rose to 1.92 billion rupees ($20.27 million), from 1.51 billion rupees a year earlier.

Shares of the company were up 3.6%

Dr Lal reported a near 20% increase in consolidated revenue from operations to 8.74 billion rupees during the quarter

"The diagnostics industry continues to benefit from increasing healthcare awareness, rising adoption of preventive health check-ups, and expanding access to diagnostic services across India," said Group Chief Financial Officer and CEO, international business, Ved Goel

The company, which operated 312 labs as of March 31, tested 13.6% more samples in the second quarter

"The organized diagnostics sector is also witnessing sustained consolidation, creating opportunities for scaled players with strong quality credentials and nationwide reach," Goel said.