US-based Wasatch Advisors buys stakes in Dr Lal PathLabs taking total to 7.04%

US-based Wasatch Advisors Inc on Monday bought 2 per cent stakes in Dr. Lal PatLabs Limited.

FPJ Web DeskUpdated: Thursday, November 24, 2022, 12:54 PM IST
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US-based Wasatch Advisors buys stakes in Dr Lal PathLabs taking total to 7.04% | File /Representative image

US-based Wasatch Advisors Inc on Monday bought 2 per cent stakes in Dr. Lal PatLabs Limited. The company's stake in Dr. Lal PathLabs has now been increased from its previous 5.04 per cent to a total of 7.04 per cent. Wasatch bought 1.67 million shares of the medical diagnostics firm in the open market.

The company offers asset management, financial planning and investment advisory services.

Dr. Lal Path Labs is an Indian service provider of diagnostic and healthcare tests. It offers wide range of tests on blood, urine and other human body viscera.

Dr Lal PathLab's quarterly earnings ending September

In September quarter, Dr Lal PathLabs net profit went down by 16.29 per cent to Rs 78.60 crore from Rs 93.90 crore last year. The net sales for the quater ending in September was at Rs 466.90 crore down by 0.74 per cent from Rs 470.40 crore for the same period last year. The company's EBITDA for the quarter was at Rs 137.80 crore down by 7.08 per cent from last year's Rs 148.30 crore.

Dr Lal PathLab's EPS also went down to Rs 9.50 in the same quarter from Rs 11.36 in last year.

Dr Lal PathLab's shares today

The shares of the company on Thursday were down by 1.45 per cent at Rs 2,404.

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