India's Dr Lal Path Labs posts higher Q3 profit on steady testing demand

New Delhi: India's Dr Lal Path Labs reported a 19per cent jump in its third-quarter profit on Thursday, led by continued demand for its bundle test offerings, sending its shares 3per cent higher.

The company's consolidated net profit rose to 967 million rupees ($11.2 million) in the three months to Dec. 31, from 813 million rupees a year earlier, but fell short of analysts' estimate of 976.9 million rupees, according to data compiled by LSEG.

An increasing awareness around health and wellness, coupled with the expansion of diagnostics firms such as Dr Lal Path into smaller cities, has boosted demand for medical tests.

The company, which operates about 300 testing labs, said the number of samples tested grew 10per cent during the quarter.

Dr Lal Path has also benefited from strong demand for its bundle test offerings, which combine tests for multiple diseases such as hyperthyroidism and diabetes, analysts said.

The company's revenue from operations met analysts' estimates and climbed about 11per cent to 5.97 billion rupees.

It declared a dividend of six rupees per share for the fiscal year 2025.

Rival Metropolis Healthcare is set to report its third-quarter results next week.

($1 = 86.5630 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza and Mrigank Dhaniwala)