PharmEasy-owned diagnostics chain Thyrocare reported a 59.9% year-on-year (YoY) increase in its consolidated net profit for Q1 FY26, reaching ₹38.3 Cr, up from ₹23.9 Cr in the same quarter last year. On a sequential basis, profit rose 77.5% from ₹21.6 Cr in Q4 FY25.
Operating revenue for the quarter stood at ₹193 Cr, marking a 23% YoY growth from ₹156.9 Cr. Compared to the previous quarter, revenue rose 3.1% from ₹187.2 Cr. Including other income of ₹4.7 Cr, total income reached ₹197.7 Cr, up from ₹160.5 Cr in Q1 FY25.
Volume and Network Expansion
The company processed 46.9 million tests during the quarter, up 15% YoY, and served 4.6 million patients, registering a 12% increase from the year-ago period. Thyrocare also expanded its operational footprint to 9,551 active franchisees.
The growth was supported by the addition of new infrastructure, including a regional lab in Bhagalpur, Bihar, and new partner labs in Kashmir and Roorkee.
Leadership Updates
During the quarter, Thyrocare saw key changes to its leadership team. Alok Kumar Jagnani, who had been CFO since August 2023, transitioned to the role of Group CFO at API Holdings, the parent company of PharmEasy. He also joined Thyrocare’s board as a non-executive, non-independent director.
Vikram Gupta, a seasoned finance professional with over two decades of experience, has been appointed as the new CFO. He previously served at Rebel Foods and has held leadership roles at Tata Play Fiber and Vodafone Idea.
In a related board-level change, Hardik Kishor Dedhia stepped down as non-executive, non-independent director due to other professional commitments.
Expense Breakdown
Total expenses during the quarter rose 16.4% YoY to ₹147.5 Cr, compared to ₹126.6 Cr in Q1 FY25.
- Cost of Materials Consumed: ₹55.4 Cr, up 23.9% from ₹44.7 Cr
- Employee Benefit Expenses: ₹33 Cr, up 14.9% from ₹28.7 Cr
- Other Expenses: ₹46.63 Cr, up 16.2% from ₹40.09 Cr
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