Thyrocare shares dip after net profit plunges 60% due to reduced sales

The EBITDA, or earnings before interest, taxes, depreciation, and amortisation — a measure of a company's overall financial performance — declined 49.6 percent from Rs 71.2 crore in the last quarter to Rs 35.9 crore in the April-June quarter for the financial year 2023.

Thyrocare’s margin also fell to 28.1 percent. Sales for the quarter ended June 2022, declined 22.3 percent year-on-year and stood at Rs 127.79 crore.

The company saw growth in non-COVID-19 revenue as it went up 12 percent and stood at Rs 112.2 crore as against Rs 100.5 crore in the last quarter.

“As we grow the business we should see significant operating leverage going forward, we expect the margin to be 30-33 percent going ahead. We expect to hopefully continue the growth trajectory that we have demonstrated over the last couple of quarters,” Rahul Guha, MD and CEO, Thyrocare Technologies, told CNBCTV18.

#1QwithCNBCTV18 | @Thyrocare posts a weak set of Q1 earnings, revenue declines YoY. Co’s MD & CEO Rahul Guha tells @ekta_batra, @_soniashenoy & @blitzkreigm that they expect margin to hover between 30-33% going ahead. (2/2) pic.twitter.com/s6CRdcFoLA

— CNBC-TV18 (@CNBCTV18News) August 2, 2022 

Shares of Thyrocare technologies have been under pressure since the start of 2022. The stock has declined over 40 percent so far in the year.