Thyrocare's Q2 Profit Zooms 81% YoY To INR 48 Cr

SUMMARY

On a sequential basis, the company's profit grew 25% from INR 38.3 Cr

The company's operating revenue stood at INR 216.5 Cr during Q2 FY26, up 22% YoY and 12% QoQ

Its total expenses rose 10% YoY and 7% QoQ to INR 157.3 Cr

PharmEasy-Owned diagnostics laboratories chain Thyrocare’s net profit surged 81% to INR 47.8 Cr in Q2 FY26 from INR 26.4 Cr in the year-ago quarter. On a sequential basis, the company’s profit grew 25% from INR 38.3 Cr.

The sharp rise in profit came on the back of a robust uptick in its top line and improvement in margins. The company’s operating revenue stood at INR 216.5 Cr during the quarter under review, up 22% from INR 177.4 Cr in Q2 FY25. On a QoQ basis, revenue rose 12% from INR 193 Cr.

In a statement, Thyrocare said that the top line growth was driven by a 24% uptick in the revenue generated from its pathology business. Within this segment, franchise revenue grew 20% YoY and partnership revenue rose 35% YoY.

The company’s EBITDA zoomed 48% YoY to INR 71.5 Cr during the quarter under review, while EBITDA margin expanded 600 basis points YoY to 33%.

Including other income of INR 3.1 Cr, the company’s total income for the quarter stood at INR 219.6 Cr. Meanwhile, its total expenses rose 10% YoY and 7% QoQ to INR 157.3 Cr.

On the operational front, the company claimed to have processed a record 5.33 Cr tests during the quarter, marking a 21% YoY jump.

In its meeting today, Thyrocare’s board approved issuance of an interim dividend of INR 7 per share for FY26. The board also approved a proposal to issue bonus shares in the ratio of 2:1, that is, issuance of two equity shares of the company for every one equity share held by a shareholder.

While the diagnostics entity reported a significant growth in the September quarter, the struggles of its parent entity PharmEasy continue. During the quarter under review, PharmEasy availed yet another debt facility of INR 1,700 Cr to fulfil past obligations. To avail the debt, its subsidiary and Thyrocare’s parent entity Docon Technologies pledged 3.23 Cr shares of Thyrocare to Catalyst Trusteeship Ltd.

Besides, founder Siddharth Shah also stepped down from his chief executive role in August. Thyrocare’s Guha succeeded Shah as PharmEasy CEO.

Shares of Thyrocare ended today’s trading session 1.25% higher at INR 1,278.95 on the BSE.