Vijaya Diagnostic Centre Limited (VDCL), one of India’s leading integrated diagnostic chain companies, Q1 FY23 revenue from operations decreased by 14.9% YoY to Rs. 104.4 crore whereas non-COVID revenues grew by 12% YoY.

Q1 FY23 witnessed a transition in the revenue mix profile from COVID to non-COVID. This resulted in the non-COVID business revenues registering a growth of 12% YoY and COVID revenues declining by 90% YoY. Radiology business stood higher at 36% as against 32% in Q1 FY22, positively contributing to the company’s non-COVID business. Wellness share in Q1 FY23 was up at 9.6% as against 4% in Q1 FY22.

EBITDA stood at Rs. 39.9 crore and EBITDA margin for the quarter was 38.2% whereas Profit After Tax (PAT) stood at Rs. 17.5 crore translating into a PAT margin of 16.7%.

Commenting on the performance, Suprita Reddy, CEO, Vijaya Diagnostic Centre said, “I am pleased to share that we have commenced the fiscal on a positive note. During Q1 FY23, Vijaya was able to capitalize on the healthy recovery in demand from its customers for non-covid, radiology and wellness businesses. A notable month-on-month improvement across our key business parameters was witnessed during this period and we expect this trend to continue in the upcoming quarters as well."

"Vijaya has achieved an important milestone of successfully establishing its 100th centre by opening five new centres during Q1 FY23. The company remains excited for its upcoming 10,000 square feet facility at Rajahmundry which is expected to be inaugurated soon," commented Reddy.

"Additionally, the company has made considerable progress on our upcoming 16,000 square feet Punjagutta centre which is scheduled to be launched in the coming months. We remain excited about these state-of-the-art facilities that are well equipped with advanced radiology and will offer a wide range of integrated diagnostics services to our consumers. Overall, our expansion and other growth initiatives are progressing as per plan," said Reddy.

"Our endeavor remains on strengthening our leadership position in key markets as we move into the pre-pandemic environment. Looking ahead, we believe that our integrated diagnostics offerings, B2C business model, robust financial position, and strong brand salience in our core markets, should assist us to withstand any near-term challenges. Additionally, we are confident that these inherent strengths would go a long way in creating sustainable value for all our stakeholders,” added Reddy.