The October-December quarter includes the end of the monsoon season as well as winter, which brings with it illnesses like influenza and stomach flu.

Dr. Lal PathLabs, India’s largest diagnostics company by sales, reported a better profit for the third consecutive quarter on Thursday, owing to increased diagnostics and testing during the monsoon and winter seasons, as well as a surge in COVID-related patients.

The company’s overall net profit increased 54% year on year to 813 million rupees (almost $10 million) in the third quarter.

Dr Lal PathLabs, a diagnostics company, announced a 54% year-on-year increase in total net profit to Rs 81.3 crore in the third quarter of this fiscal year on February 1.

Its total revenue has increased by 10% to 5.39 billion rupees.

According to the Economic Times, Last year, the company made Rs 52.8 crore in profit during the same period. Revenue for the October-December quarter was Rs 538.9 crore, up 10.1% from the previous year’s quarter of Rs 489.4 crore.

The October-December quarter includes the monsoon’s tail end as well as winter, which brings illnesses including influenza and stomach flu.

Furthermore, a spike in the COVID-19 cases at the end of December boosted demand for tests.

That helped Dr. Lal PathLabs as well as its competitors, Metropolis Healthcare and Thyrocare Technologies.

Thyrocare’s results are coming later today, while Metropolis’ results will be released on Friday.

All three firms’ stock values fluctuated slightly throughout the day.

Dr. Lal PathLabs’ stock rose 14% in 2023, sandwiched between the Metropolis’ 26% increase and Thyrocare’s 4% increase. ($1 equals 82.9746 Indian rupees)

As per Moneycontrol, the company’s declared earnings before interest, taxes, depreciation, and amortization (EBITDA) were Rs 140.6 crore, up 24.5 percent from Rs 112.9 crore the previous year. The EBITDA margin was 26.1 percent, up from 23.1 percent last year.

The corporation will pay ₹12 per equity share for the second interim dividend in fiscal year 2023-24. The record date for payment of the second interim dividend will be February 13, 2024.

Dr. Lal PathLabs Ltd. shares were trading 0.25% down at ₹2,511 on the NSE. The stock has grown more than 20% in the last year.