Dr Lal PathLabs Q2 FY27 Revenue Rises 19.6% to ₹874 Crore
Key highlights
- Dr Lal PathLabs reported Q2 FY27 revenue of ₹874 crore, up 19.6% year on year.
- Q2 FY27 EBITDA rose 25.1% to ₹280 crore and the EBITDA margin improved to 32.1%.
- Q2 FY27 profit after tax increased 27.5% to ₹194 crore, while EPS rose to ₹11.5.
- Patient volume grew 9% to 9 million and sample volume rose 13.6% to 28.8 million.
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Dr Lal PathLabs Ltd reported Q2 FY27 revenue of ₹874 crore, up 19.6% year on year. The diagnostic services company also recorded EBITDA of ₹280 crore, up 25.1%, supported by higher patient volumes, sample volumes and revenue per patient during the quarter ended September 30, 2026.
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What did Dr Lal PathLabs report for Q2 FY27?
Dr Lal PathLabs reported consolidated revenue of ₹874 crore for Q2 FY27, compared with ₹731 crore in Q2 FY26. Management described this as its highest quarterly revenue growth in the past five years. Revenue for the first half of FY27 reached ₹1,672 crore, representing year-on-year growth of 19.4%.
Profitability grew faster than revenue during the quarter. EBITDA rose to ₹280 crore from ₹224 crore, while the EBITDA margin improved to 32.1% from 30.7% in the year-ago quarter. Profit after tax was ₹194 crore, compared with ₹152 crore in Q2 FY26, and the PAT margin was 22.2%. Earnings per share increased to ₹11.5 from ₹9.
What drove Dr Lal PathLabs' quarterly growth?
Dr Lal PathLabs said its Q2 FY27 revenue growth was driven in part by a 9% increase in patient volumes. The company served 9 million patients during the quarter, while sample volume grew 13.6% to 28.8 million. These operating metrics indicate that sample growth exceeded patient growth in the reported period.
Revenue per patient rose 9.7% to ₹976 from ₹889 in Q2 FY26. Chief Executive Officer Shankha Banerjee said the company’s focus on scientific leadership, patient experience and operational excellence was supporting performance. He also cited medical leadership and clinical depth as factors supporting test mix and realisation quality.
How did the first half of FY27 perform?
Dr Lal PathLabs generated first-half FY27 revenue of ₹1,672 crore, up 19.4% from the corresponding prior-year period. H1 EBITDA was ₹528 crore, up 26.7%, according to the company’s investor relations summary. The half-year EBITDA result extended the margin-led earnings growth reported in the September quarter.
First-half profit before tax stood at ₹489 crore, with a PBT margin of 29.3%, and was 27.2% higher year on year. H1 profit after tax was ₹364 crore, compared with ₹286 crore in the prior-year period. These figures show that profit growth remained ahead of revenue growth through the first six months of FY27.
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What did the board decide alongside the results?
Dr Lal PathLabs' board declared an interim dividend of ₹5 per share, equal to 50% of the face value of each share. The results were announced after the board meeting held on November 4, 2026, covering the quarter and half year ended September 30, 2026.
The board also approved further investment of up to ₹49.5 crore in Dr. Lal PathLabs FZCO, according to the company’s earnings summary. The disclosed materials identify Ved Prakash Goel as Group Chief Financial Officer and Chief Executive Officer of International Business, while Dr. Arvind Lal is Executive Chairman and Shankha Banerjee is Chief Executive Officer.
How did investors react to the Q2 FY27 results?
Shares of Dr Lal PathLabs were trading around 4% higher on November 4 after the results announcement, according to the provided market update. The market reaction followed double-digit year-on-year growth in revenue, EBITDA and net profit, along with the improvement in EBITDA margin.
For investors, the reported data point to growth in both testing activity and revenue per patient. The 13.6% rise in sample volumes, 9% increase in patient volumes and 9.7% growth in revenue per patient were the main disclosed operating indicators. The company did not provide a financial forecast in the supplied earnings-call material, so the reported numbers should be assessed against future quarterly disclosures.
Conclusion
Dr Lal PathLabs delivered a 19.6% increase in Q2 FY27 revenue to ₹874 crore and a 25.1% rise in EBITDA to ₹280 crore. Higher patient and sample volumes, alongside increased revenue per patient, supported the quarter, while EBITDA and PAT grew faster than revenue and margins improved from a year earlier.
Investors will watch the company’s next results for the progression of patient volumes, sample volumes, revenue per patient and margins. The disclosed follow-up corporate actions are the ₹5-per-share interim dividend and the approved investment of up to ₹49.5 crore in Dr. Lal PathLabs FZCO.