Healthcare diagnostics firm Thyrocare Technologies reported a 68.17% year-on-year decline in net profit to ₹15.22 crore for the September quarter of FY27, compared with ₹48 crore in the year-ago period. The decline came despite growth in revenue and EBITDA, as the company recognised an exceptional impairment charge of ₹44.98 crore relating to its investment in Nuclear Healthcare (NHL).
Revenue rose 25.1% year-on-year to ₹271 crore from ₹217 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 25.1% to ₹89 crore from ₹71 crore. The EBITDA margin remained flat at 33% year-on-year.
₹45 crore impairment charge impacts profit
According to the company, the impairment loss followed a reassessment of the recoverable amount of its investment in NHL based on the latest valuation report. The ₹44.98 crore charge was recognised as an exceptional item in the financial results for the quarter ended September 30, 2026.
The company said the one-time, non-cash impairment charge was recognised in the consolidated financial statements in connection with the definitive term sheet for the proposed sale of the NHL business. It added that the charge had no impact on its operational performance.
Thyrocare has issued a postal ballot seeking shareholders’ approval for the proposed divestment of its Nuclear Imaging business. The company said the move would allow it to sharpen its focus and allocate capital towards its pathology business, which it believes offers a stronger growth trajectory, higher margins and better return on capital employed (ROCE).
Test volumes rise 27.4% year-on-year
Thyrocare, which describes itself as India’s largest diagnostic test volume processor, processed 61.6 million tests during the quarter, registering year-on-year growth of 27.4%.
Its pathology business continued to report growth, with franchise revenue increasing 26.9% and partnership revenue rising 27.9% year-on-year.
The company also reported improvements in quality metrics. Customer complaints declined 24% year-on-year to 2.9 per million, while the average turnaround time (ATAT) stood at 3.49 hours from sample receipt.
Expands specialty diagnostics and home testing
Thyrocare continued to expand its specialty diagnostics portfolio, building on its entry into allergy testing and genomics. The company said it was progressively expanding its specialty test offerings, with an emphasis on scientific rigour, quality and turnaround times. Its genomics portfolio includes the launch of non-invasive prenatal testing (NIPT).
The company also launched a pregnancy test kit designed for rapid home testing, with results available in five minutes. According to Thyrocare, it is the first such kit in India backed by a confirmatory laboratory test.
Actress Yami Gautam has been onboarded as the brand ambassador for the product to strengthen consumer awareness and outreach. The company said the kit was launched with the help of Ascent, another company within the API Holdings group, and is already available at more than 10,000 chemist outlets.
Management commentary
Rahul Guha, managing director and CEO of Thyrocare Technologies, said the company delivered a strong performance during the quarter, supported by operational efficiency, network expansion and value-driven diagnostics.
He highlighted the expansion of the specialty portfolio through allergy testing and the entry into genomics, alongside efforts to expand the franchise and partner network in underserved regions.
Guha also said the company was preparing to enter the point-of-care devices segment with a differentiated offering, adding that he hoped to see its presence across all major chemist outlets in the near future.
Thyrocare Technologies shares rose 4.55% to close at ₹517 on October 29, up ₹22.50, ahead of the company’s Q2 earnings announcement.
Also Read: Vedanta Oil and Gas Q2 results: Profit falls 21% sequentially despite 66% jump in EBITDA