Shares of Thyrocare fell more than 4% from Rs 55.6 crore in the same period a year earlier; after the company’s April-June quarter, net profit fell 60.9% to Rs 21.7 crore due to lower sales following the easing of the COVID-19 pandemic.

Shares of Thyrocare Technologies were at Rs 631 at 1.08 pm, down 4.03% from the BSE’s previous close. The company’s revenue fell 22.4% year-on-year to Rs 127.8 crore.

EBITDA or earnings before interest, tax, depreciation and amortisation, a measure of the company’s overall financial performance, fell 49.6% to Rs 35.9 crore in the April-June quarter of fiscal 2023 from Rs 71.2 crore in the previous quarter.

Thyrocare’s profit margin also fell to 28.1%. Sales for the quarter ended June 2022 fell 22.3% year-on-year to Rs 127.79 crore.

The company’s non-COVID-19 revenue rose 12% to Rs 112.2 crore compared to Rs 100.5 crore in the previous quarter.

Shares of Thyrocare Technologies have been under pressure since early 2022. The stock is down more than 40% so far this year.