Going forward for the next 2-3 years, the growth is expected at the rate of 22 percent, said A Velumani, Chairman, CEO and Managing Director, Thyrocare Technologies.
The year on year (YoY) third quarter numbers for Thyrocare Technologies were in line but the quarter on quarter (QoQ) numbers were a bit weak.
A Velumani, Chairman, CEO and Managing Director, Thyrocare Technologies in an interview to CNBC-TV18 spoke about the Q3 performance and the outlook going forward.
The YoY Q3 revenues for the company were up 19 percent to Rs 84 crore versus Rs 70.4 crore but the QoQ revenues in Q3FY17 were down 5 percent to Rs 84 crore compared to Q2FY17 revenues of Rs 88 crore.
Similarly, the YoY EBITDA was up 35 percent to Rs 35.4 crore versus Rs 26.2 crore but QoQ EBITDA was down 3.2 percent from Rs 36.5 crore. The YoY and QoQ margins were up 42.2percent versus 37.3 percent YoY and from 41.5 percent QoQ.
Velumani said the improvement in margins was because of better products in the Wellness Profile and they are likely to range between 37-41 percent going forward.
He said the laboratory business did not grow well but the radiology business did well.
Going forward for the next 2-3 years, the growth is expected at the rate of 22 percent.For more, watch videoGet access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.