Mumbai, Oct 29 (PTI) Diagnostic laboratory chain Thyrocare Technologies on Thursday reported a 68.16 per cent year-on-year decline in consolidated net profit to Rs 15.22 crore in the September quarter despite revenue growth, due to a one-time impairment loss.
The company's net profit stood at Rs 47.81 crore during the corresponding period of the preceding fiscal, Thyrocare said in a regulatory filing.
Revenue from operations grew by 25.06 per cent during the quarter under review to Rs 270.81 crore, compared to Rs 216.53 crore in the same period a year ago.
The decline in profit after tax (PAT) was due to a one-time exceptional item of Rs 45 crore, a non-cash impairment charge in consolidated books, recognised in connection with the definitive term sheet for the sale of the Nueclear Healthcare Ltd business, the company said.
"The exceptional item represents a one-time, non-cash impairment charge of Rs 45 crore relating to Nueclear Healthcare Limited (NHL) in consolidated books, recognised in connection with the definitive term sheet for the sale of the NHL business," Thyrocare Technologies said.
"This charge has no impact on the company's operational performance," Thyrocare Technologies added.
In the filing, it said that the management reassessed the recoverable amount of its investment in HNL and recognised an additional impairment loss of Rs 9.17 crore during the quarter ended September 30, 2026, and presented it as an exceptional item in the financial results.
The Board of Directors, at its meeting held on September 21, 2026, approved the proposed sale of the company's entire shareholding in NHL, a wholly owned subsidiary, for an aggregate consideration comprising cash and Compulsorily Convertible Preference Shares amounting to nearly Rs 141.40 crore.
The company’s consolidated Ebitda (earnings before interest, taxes, depreciation and amortisation) grew by 24.9 per cent year-on-year to Rs 89.3 crore.
During the July-September period, the company's profit before exceptional items and income tax stood at Rs 75 crore, compared to Rs 60.89 crore a year ago.
Its total expenses rose to Rs 196.61 crore, from Rs 157.28 crore in the second quarter of the previous financial year.
“We reported a strong performance this quarter, driven by continued focus on operational efficiency, network expansion and value-driven diagnostics. During the period, we also strengthened our speciality portfolio with the addition of allergy testing and entry into genomics through the launch of NIPT, with a phased expansion of the test menu underway," Thyrocare Technologies MD and CEO Rahul Guha said.
Thyrocare continues to expand its reach in underserved regions and scale its franchise and partner network, while remaining committed to delivering high-quality, affordable healthcare services across India, he said.
“I am particularly excited about our foray into Point of Care devices with a unique proposition and soon hope to be present in all major chemist outlets,” he added.
