Dr Lal PathLabs shares experienced a decline of over 6% on October 24 due to profit booking. This came after the company announced an 18% year-on-year increase in consolidated net profit for Q2, amounting to Rs 131 crore. This is higher than the Rs 111 crore reported in the same quarter last fiscal year.
The company's revenue also grew, reaching Rs 660 crore in the second quarter, up from Rs 601 crore in the previous year.
The stock hit an intraday low of Rs 3,041.05, reflecting a decline of 6.59% from its previous close. Over the last two days, the stock has experienced a total drop of 7.34%.
Additionally, the board of Dr Lal PathLabs approved a second interim dividend of Rs 6 per equity share for the financial year 2024-25.
As of the latest update, the stock was trading at Rs 3,060.15, down 6.01%.