Dr. Lal PathLabs Limited Q2 profit rises to Rs 193.90 crore

Dr. Lal PathLabs reported consolidated profit of Rs 193.90 crore for the quarter ended 30 September 2026, up from Rs 152.20 crore a year earlier, as revenue from operations reached Rs 873.90 crore and total income rose to Rs 908.20 crore.

What did Dr. Lal PathLabs report for the September 2026 quarter?

Dr. Lal PathLabs reported Rs 193.90 crore of consolidated profit for the three months ended 30 September 2026, an increase of Rs 41.70 crore from Rs 152.20 crore in the corresponding quarter ended 30 September 2025. Profit was also Rs 23.40 crore above Rs 170.50 crore in the preceding three months ended 30 June 2026. Total comprehensive income was Rs 192.40 crore, against Rs 153.70 crore a year earlier.

Profit before tax was Rs 260.50 crore in the September 2026 quarter, compared with Rs 203.60 crore in September 2025 and Rs 228.70 crore in June 2026. Tax expense was Rs 66.60 crore, comprising current tax of Rs 65.80 crore and deferred tax of Rs 0.80 crore. Basic earnings per share, not annualised for quarters, rose to Rs 11.51 from Rs 9.06 a year earlier and Rs 10.15 sequentially.

How did Dr. Lal PathLabs' revenue and income change?

Dr. Lal PathLabs generated Rs 873.90 crore of revenue from operations in the September 2026 quarter, up Rs 143.30 crore from Rs 730.60 crore in the year-earlier quarter and Rs 76.20 crore from Rs 797.70 crore in June 2026. Other income was Rs 34.30 crore, compared with Rs 24.80 crore a year earlier and Rs 31.90 crore in the preceding quarter. Total income consequently reached Rs 908.20 crore.

For the six months ended 30 September 2026, Dr. Lal PathLabs reported revenue from operations of Rs 1,671.60 crore, compared with Rs 1,400.40 crore for the corresponding six months of 2025. Total income was Rs 1,737.80 crore, versus Rs 1,453.30 crore in the prior-year period. Profit for the six months rose to Rs 364.40 crore from Rs 286.20 crore, while basic earnings per share increased to Rs 21.65 from Rs 16.97.

The consolidated group changed during the six-month period. The auditor's report lists Shahbazkers Diagnostic Centre Private Limited as a subsidiary from 1 May 2026, Dr. Lal PathLabs FZCO from 12 June 2026, Sunshine Healthcare, Ghana from 4 August 2026, and Dr Lal Pathlabs Indomed LLC from 19 August 2026. The filing does not separately quantify the revenue or profit contribution of these entities.

Which costs increased during the September 2026 quarter?

Dr. Lal PathLabs' total expenses were Rs 647.60 crore in the September 2026 quarter, compared with Rs 551.80 crore in the corresponding 2025 quarter and Rs 600.90 crore in June 2026. The Rs 95.80 crore year-on-year increase in expenses was less than the Rs 152.80 crore increase in total income, while profit before tax increased by Rs 56.90 crore to Rs 260.50 crore.

Cost of materials consumed rose to Rs 161.90 crore from Rs 141.80 crore a year earlier, while employee benefits expense increased to Rs 138.60 crore from Rs 123.60 crore. Fees paid to collection centres and channel partners were Rs 128.90 crore, compared with Rs 108.70 crore in the prior-year quarter. Other expenses increased to Rs 164.30 crore from Rs 132.40 crore, and depreciation and amortisation rose to Rs 46.90 crore from Rs 40.50 crore.

Finance costs were Rs 7 crore in the September 2026 quarter, compared with Rs 4.80 crore a year earlier and Rs 6.30 crore in June 2026. During the six months ended 30 September 2026, finance costs were Rs 13.30 crore and depreciation and amortisation was Rs 91.30 crore. Total six-month expenses were Rs 1,248.50 crore, compared with Rs 1,068.60 crore in the corresponding 2025 period.

What do Dr. Lal PathLabs' cash flow and balance sheet show?

Dr. Lal PathLabs generated Rs 402.20 crore of net cash from operating activities in the six months ended 30 September 2026, compared with Rs 324 crore in the corresponding 2025 period. Cash generated from operations was Rs 498.40 crore before income-tax payments of Rs 96.20 crore. Operating profit before working-capital changes increased to Rs 549 crore from Rs 434.10 crore in the prior-year six-month period.

Investing activities used Rs 134 crore during the current six months, compared with an outflow of Rs 388 crore in the previous corresponding period. The current-period outflow included Rs 66.80 crore for property, plant and equipment, Rs 20.10 crore for other intangible assets, Rs 53.02 crore of net cash outflow for investments in subsidiaries and Rs 3.50 crore for investment in associates. Financing activities used Rs 167.50 crore, including Rs 151.30 crore of dividends paid on equity shares.

Cash and cash equivalents stood at Rs 343.50 crore on 30 September 2026, up from Rs 242.80 crore at 31 March 2026. Total assets were Rs 3,457.60 crore, compared with Rs 3,146 crore at the March year-end, while total equity increased to Rs 2,779.50 crore from Rs 2,541.30 crore. Total liabilities were Rs 678.10 crore at 30 September 2026, compared with Rs 604.70 crore at 31 March 2026.

What is Dr. Lal PathLabs planning for its overseas subsidiary?

Dr. Lal PathLabs' board approved further investment of up to Rs 49.50 crore in Dr. Lal PathLabs FZCO in one or more tranches for business and operational requirements. The filing states that the investment may also support further investment by Dr. Lal PathLabs FZCO in Sunshine Healthcare Limited in Ghana. It does not set out a timetable, allocation between the entities or an expected financial contribution from the investment.

The September 2026 balance sheet recorded goodwill of Rs 585.70 crore, compared with Rs 548.20 crore at 31 March 2026, while investments accounted for using the equity method were Rs 3.40 crore versus Rs 0.10 crore. The auditor said six subsidiaries included in the consolidated results had total assets of Rs 123.381 crore and quarterly revenue of Rs 13.399 crore, based on unaudited information approved by management. Those subsidiaries' quarterly profit after tax was Rs 2.486 crore.

Conclusion

Dr. Lal PathLabs reported higher September-quarter revenue, total income and profit while materials, employee, channel-partner and other expenses also increased. Revenue from operations rose by Rs 143.30 crore year on year, while profit for the period increased by Rs 41.70 crore to Rs 193.90 crore and basic earnings per share reached Rs 11.51.

The next disclosed item to watch is deployment of up to Rs 49.50 crore into Dr. Lal PathLabs FZCO and potentially Sunshine Healthcare Limited in Ghana. The filing leaves the timing, tranche structure and operating effect of the overseas investment unresolved, while the group will continue to consolidate entities added between May and August 2026.