PharmEasy’s diagnostics platform Thyrocare‘s financial statements for Q1 FY25 show that its profit after tax (PAT) has grown 35% YoY to Rs 23.5 crore as compared to Rs 17.4 crore in Q1 FY24. Revenue from operations indicated a growth of 16.3% from Rs 134.9 crore to Rs 156.9 crore in the same period.
While revenue sourced from pathology grew by 16% YoY, revenue sourced from radiology went up by 15% in the June quarter of the ongoing financial year as compared to Q1 FY24. The PAT and operating income grew by 36% and 2%, respectively on a sequential basis.
The company’s EBITDA remained Rs 42 crore, 21% more than Rs 34.7 crore in the corresponding quarter of FY24. Thyrocare’s gross margins jumped by 15% from Rs 96.8 crore in Q1 FY24 to Rs 111.5 crore in Q1 FY25 on account of volume expansion.
Thyrocare’s total expenses were noted at Rs 126.6 crore in Q1 FY25, 14% more than Rs 111.09 crore in Q1 FY24. Material consumption costs added Rs 37.30 crore in total expenses in the same quarter last year, and also accounted for a major portion in the first quarter of the ongoing financial year.
Founded by A. Velumani in 1996, Thyrocare is a Navi Mumbai-based diagnostic company, having 29 labs nationwide and 1 in Tanzania. Its total market capitalization is Rs 3,982.57 crore. Notably, PharmEasy’s parent company API Holdings, had acquired a 66.1% stake in the diagnostic platform for Rs 4,546 crore in 2021.
Additionally, once the Q1 FY25 results were released, Thyrocare’s shares hit a 20% upper-circuit today, with a new 52-week high at Rs 780.10 per unit on the BSE.
