Q3FY22 Quarterly Result Announced for Thyrocare Technologies Ltd.
Healthcare Services firm Thyrocare Technologies declares Q3FY22 result: Revenue from operations of Rs. 110 Crore, significantly impacted due to erosion of Revenue from government business in the earlier period, festivities and general fall in demand historically evidenced in Q3. Revenue from Government contracts alone dipped by 82% QoQ, due to reduction in spending on Covid and onetime Govt. projects. Revenue for nine months ended 31 December 2021 of Rs. 438 Crore grew by 31 % YOY, due to one time government projects executed in earlier quarters. Non Covid business continued to be at par pre-Covid level. The per sample and per patient realization continued to improve across all the segments. Gross margin improved YOY and sustained at sequential quarter. The hiring at the managerial level is ramped up to ensure business growth in all verticals in the coming years. EBITDA margin staggered mainly on account of impact on the topline due to erosion of government contract business, fixed costs of personnel and other operational costs. Other expenses during the quarter includes CSR expenses Rs. 1.92 crore (Q2- Rs. 0.49 Crore) incurred during the period. Only 0.40 million Covid RTPCR performed (2.13 million in previous quarter) significantly impacting the performance of current quarter. 4.06 million (Q2 - 6.40 million) samples sourced from 3.00 million (Q2 - 5.29 million) patients were processed during current quarter of which about 3.62 million (Q2 - 4.19 million) samples were for non – Covid related tests/ parameters. 24.22 million (Q2 - 28.28 million) tests were processed in the current quarter that includes standalone tests and tests included in the preventive care Aarogyam profiles. Result PDF14-02-2022