PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr

PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr

SUMMARY

Sequentially, profit declined 28.27% from INR 26.42 Cr

Operating revenue grew 23.38% to INR 165.92 Cr during the quarter under review from INR 134.47 Cr in Q3 FY24

Total expenses grew 20.52% to INR 141.85 Cr during the quarter under review from INR 117.69 Cr in Q3 FY24

PharmEasy-owned diagnostics platform Thyrocare’s consolidated net profit zoomed 28.56% to INR 18.95 Cr in the third quarter of the financial year 2024-25 (FY25) from INR 14.74 Cr in the year-ago quarter.

Sequentially, profit declined 28.27% from INR 26.42 Cr. 

Operating revenue grew 23.38% to INR 165.92 Cr during the quarter under review from INR 134.47 Cr in Q3 FY24. On a quarter-on-quarter basis, it narrowed 6.45% from INR 177.36 Cr. 

Revenue from diagnostic testing services and imaging services rose 24.04% and 13.23% year-on-year (YoY) to INR 151.87 Cr and INR 13.43 Cr, respectively. 

Including other income, the company reported a 23.61% increase in total income to INR 169.93 Cr from INR 137.47 Cr in the same quarter last fiscal year. 

Total expenses grew 20.52% to INR 141.85 Cr during the quarter under review from INR 117.69 Cr in Q3 FY24. Sequentially, expenses were almost flat. 

Cost of materials consumed was the biggest cost for the company at INR 44.79 Cr, followed by employee benefit expenses at INR 35.09 Cr.

In a statement, the company said that its gross margin jumped 25% YoY to INR 120.7 Cr during the quarter under review, while its EBITDA grew 32% to INR 41.6 Cr. EBITDA margin expanded by 200 basis points to 23%.

Founded in 2000 by Arokiaswamy Velumani, a former scientist at the Bhabha Atomic Research Centre, Thyrocare runs a chain of diagnostics and preventive care laboratories. It claims to have a franchise base of over 9,100 and processes more than 4,30,000 diagnostics and screening investigations each night.

API Holdings Ltd (API), the parent company of online pharmacy PharmEasy, acquired 66.1% stake in Thyrocare for INR 4,546 Cr in June 2021. 

Last year in February, the diagnostics major acquired a 100% stake in Chennai-based Think Health Diagnostics and a related party to offer ECG services at home. In July 2024, Thyrocare acquired the pathology diagnostics business of Polo Labs to expand its presence in northern India.

Shares of Thyrocare ended today’s trading session 1% higher at INR 816.30 on the BSE. The company declared its results after market hours. 

You have reached your limit of free stories
Become A Startup Insider With Inc42 Plus

Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in india's startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr-Inc42 Media
PharmEasy-Owned Thyrocare’s Q3 Profit Jumps 29% To INR 19 Cr-Inc42 Media
You’re in Good company