Thyrocare says volumes steady despite 10% price hike

“A lot of good discounting on diagnostics had kind of been pulled back on the platform and that resulted in in volume shrinkage. But we have kept prices stable now for the last couple of quarters. So actually, PharmEasy has grown about 3- 4%, quarter-on-quarter, of course year-on-year, it's down versus what it was last year, but quarter-on-quarter, it has stabilised and actually started to grow.”

Guha emphasised that with the rights issue and improved funding, they are planning to invest more in diagnostics and customer acquisition to drive further business expansion.

In the second quarter of the fiscal year 2024, Thyrocare's revenue increased by 10% to ₹148 crore from ₹135 crore the previous year. EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at ₹37.52 crore, up from ₹31.58 crore in the same period last year with margin increasing to 25% from 23% year-on-year.

Shares of Thyrocare have declined more than 5% over the past month.