Shares of Dr Lal PathLabs hit a record high of Rs 2,924.85, ralling 7 per cent on the BSE in the intra-day trade on Monday, on expectation of healthy earning growth in the near-term, as the company would continue to reap benefits from increased Covid-related and allied testing in its widespread network of diagnostic centers and labs.
At 11:03 am, the S&P BSE Sensex was down 2.6 per cent at 48,744 points while the stock was quoting higher for the fifth straight trading day. The stock has rallied 19 per cent, as against a 0.72 per cent gain in the benchmark index during the period.
In October-December quarter (Q3FY21), Dr Lal Pathlab recorded an all-time-high quarterly revenue of Rs 452.4 crore in Q3FY21 backed by growth in non-Covid business. The contribution from Cvodi-19 & allied business in Q3FY21 was 21.6 per cent. The company said it had conducted 5.27 lakh Covid RTPCR tests in Q3FY21 and 1.03 million year to date till December 2020. RT-PCR test being conducted in 11 labs, it s