Krsnaa Diagnostics slumps nearly 8% after Q2 net profit declines 32%

The decline in net profit was on account of higher operational expenditure on account of additional costs incurred in onboarding teams for the operation and management of our newly established centers.

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Shares of Krsnaa Diagnostics plunged nearly 8 percent in early trade on November 6 after the company reported a fall in its net profit for the September quarter.

The diagnostic company’s bottomline declined nearly 32 percent on-year to Rs 10.5 crore as against Rs 15 crore a year ago. The decline in net profit was on account of higher operational expenditure due to additional costs incurred in onboarding teams for the operation and management of newly established centres.

The company’s EBITDA margin also contracted to 21 percent in Q2 from 25 percent last year.

At 10.14am, shares of Krsnaa Diagnostics were trading 4.1 percent lower at Rs 489 on the NSE. Volumes were also higher as 86,000 shares changed hands on the exchanges so far, higher than the one-week daily traded average of 72,000 shares.

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Excluding the additional expenses incurred during the quarter, the net profit zoomed 17 percent on-year to Rs 18 crore while EBITDA margin remained stable at 25 percent. The management also expects a positive trajectory in margins as the newly established centers mature over the upcoming quarters. Revenue also rallied 26.30 percent on-year to Rs 155.40 crore.

“Krsnaa Diagnostics is well-positioned to deploy 47 CT Scan units, two MRI machines, establish 162 labs and set up 2,689 collection centres, all under various contractual agreements. As we embark on these projects, the company is actively expanding its footprint into new geographical regions, establishing a solid foundation for sustainable, long-term growth,” Pallavi Bhatevara, managing director of Krsnaa Diagnostics, said in a press release.

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