Dr. Lal PathLabs surges 14% after strong Q4 numbers
Shares of Dr. Lal PathLabs (DLPL), which posted good results yesterday, surged as high as Rs930 intraday. That’s 15% intraday gains.
DLPL reported 21.3% and 27.2% yoy growth in the revenue and PAT respectively. Margins were at 24% in Q4FY18 vs. 22.7% in Q4FY17.
The management in its conference call sounded optimistic on the business post the commencement of the Kolkata reference lab and have guided ~15% volume growth in FY19E. They have also shown their interest in growing business inorganically, which we believe will help in gaining market share in the competitive market.
The stock is currently trading at Rs880, up 9% from yesterday’s close. We have a target price of Rs963 on DLPL.
Read DLPL’s Q4 result review on our website.
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