Vijaya Diagnostic Centre on August 9 reported a 49.7 percent year-on-year rise in consolidated net profit at Rs 26.2 crore for the April-June quarter of the current fiscal year. The company had recorded a net profit of Rs 17.55 crore during the same period last year.
The diagnostic player's revenue from operations increased by 15.98 percent on year to Rs 121.04 crore against Rs 104.36 crore during the same quarter the previous year.
The net profit is down sequentially by 4.7 percent. The company reported a net profit of Rs 27.5 crore in the Jan-Mar quarter of FY23.
Moreover, Vijaya Diagnostic's earnings before interest, taxes, depreciation and amortization (EBITDA) quarter under review also rose to Rs 48.1 crore as against Rs 40 crore in the year-ago period.
The EBITDA margin was at 39.8 percent, up 160 basis points from 38.3 percent in the year ago period.
Non-Covid revenues grew by 19.2 percent YoY. This was driven by non-Covid volume growth of 20.3 percent compared to the same period a year ago.
During the quarter, the non-Covid business made up 99.6 percent of total revenue share as against 96.9 percent revenue share in the same period last year.
“In the quarter gone by, Vijaya effectively capitalized on the increasing demand for its non-Covid business. Not only did we see a healthy contribution from new centres in greenfield locations, but we also observed better traction in our existing centers, both of which contributed to our healthy YoY revenue growth,” said Suprita Reddy, CEO of Vijaya Diagnostic Centre Ltd. in a press statement.
The shares reacted positively and traded 6.50 percent higher at Rs 495 at 2.36 pm on NSE after the results were announced.
(This is a developing story. Stay tuned for more)
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