Dr Lal PathLabs slipped down to Rs 2081.30 after the company reported a 56.8 per cent drop in consolidated net profit to Rs 57.7 crore on a 17.1 per cent fall in revenue from operations to Rs 502.7 crore in Q1 FY23 compared with last year. Profit before tax in Q1 FY23 stood at Rs 81.4 crore, down by 54.6 per cent from Rs 179.3 crore in Q1 FY22. Expenditure declined by 7.8 per cent to Rs 385.2 crores in Q1 FY23 over Q1 FY22. Earning Before Intrest Tax Depreciation and Amortization fell by 37.8 per cent to Rs 117.5 crore in Q1 FY23 from Rs 189 crore in Q1 FY22. At the end of June 2022, Net cash and cash equivalents were at Rs 436 crore.

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Dr Om Manchanda, managing director, said: “In the long run, the share transfer from the unorganized to the organized sector will accelerate due to a change in industry patterns. We continue to expand our reach, bringing innovation and execution focus to our services. Further, there is room for inorganic expansion to reverse pre-pandemic growth. We are geared to utilize our service quality and network effect to enhance our operating footprint.”