Dr Lal PathLabs shares shed 6% amid profit booking after firm's Q2 net profit jumps 18%- Grow Mudra

Dr Lal PathLabs shares shed 6% amid profit booking after firm's Q2 net profit jumps 18%

24 Oct , 2024 By : Debdeep Gupta

Dr. Lal PathLab's share price slipped over 6 percent on October 24 amid profit booking after the diagnostics firm said its consolidated profit after tax increased 18 percent on-year to Rs 131 crore for the second quarter ended September 30, 2024. The company reported a profit after tax (PAT) of Rs 111 crore in the July-September quarter of the last fiscal year.

Revenue increased to Rs 660 crore in the second quarter of this fiscal, as compared to Rs 601 crore in the year-ago period, the company said in an exchange filing.

Dr Lal PathLabs stock touched an intraday low of Rs 3041.05 per share on the NSE, declining 6.59 percent from its previous close. The counter has been losing for the last two days and has fallen 7.34 percent in the period. At the time of publishing, the stock was down to quote at Rs 3,060.15 apiece on the NSE, down 6.01 percent.

The company board also approved a second interim dividend of Rs 6 per equity share for the financial year 2024-25.

Dr Lal PathLabs shares rose 20.51 percent in 2024 so far, against the 10.81 percent rise in the benchmark Sensex for the same period.