Krsnaa Diagnostics stocks hit new 52-week low after Q2FY22 results, shares down 7% at closing

Krsnaa Diagnostics stocks hit a new 52-week low of Rs 726 on Tuesday after the company Q2FY22 results reported a decline in Profit After Tax (PAT). The stock closed the day at Rs 748.40, down Rs 53.30 or 6.65% on the BSE on Tuesday. 

The shares of recently listed diagnostics service provider nosedived despite record spurt in volume by more than 4.48 times on the BSE.  

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Earlier on Monday, the Pune-based diagnostic services provider Krsnaa Diagnostics reported a 44.69% YoY decline in profits at Rs 12.5 crore for the quarter ended September 30, 2021, showed a filing on BSE.  

It had posted a profit of Rs 22.6 crore in the corresponding quarter of the previous financial year. Sequentially, the profit declined 41.86% from Rs 21.5 crore posted in the previous quarter ended June 30, 2021 (Q1FY22). Revenue from operations dropped 28% YoY to Rs 108 crore as against Rs 150 crore posted last year. The revenue dropped 18.18% from Rs 132 crore posted in the previous quarter. The EBITDA dropped 25.29% YoY to Rs 31.9 crore in the reported quarter from Rs 42.7 crore posted last year.  

The EBITDA declined 23.37% sequentially from Rs 41.5 crore posted in Q1FY22. Margin stood at 29.5% in Q2FY22 as against 28.5% posted in Q2FY21. The margin stood at 31.4% in Q1FY22.  

Krsnaa Diagnostics claims to be one of the largest diagnostic services providers, which deals in specialised diagnostic imaging (including radiology), pathology/clinical laboratory and tele-radiology services. Through its network of diagnostic centres, it offers a range of test that includes 1,394 radiology tests and 2,544 pathological tests, covering a range of specialties and disciplines, the company said.