During Tuesday’s trading session, shares of one of India’s fastest-growing diagnostic service providers, both in radiology and pathology, jumped around 7 percent on BSE, after the High Court of Rajasthan passed an order in favour of the company and its consortium partner.
With a market capitalisation of Rs. 2,475.7 crores, at 10:30 a.m., the shares of Krsnaa Diagnostics Limited were trading in the green at Rs. 763.2 on BSE, up by nearly 3.2 percent, as against its previous closing price of Rs. 740. The stock has delivered positive returns of over 13 percent in one year, as well as about 6 percent returns in one month.
What’s the News
Krsnaa Diagnostics Limited, in its recent regulatory filing with the stock exchanges, announced that it has received a new Letter of Acceptance (LoA) from the National Health Mission (NHM), Rajasthan. This LoA pertains to providing laboratory services across the state under NHM’s Free Diagnostics Initiative, implemented through a HUB and SPOKE model.
This development follows a favourable ruling by the Hon’ble High Court of Rajasthan in support of Krsnaa Diagnostics and its consortium partner, Telecommunications Consultants India Ltd. (TCIL). The court directed the National Health Mission, the company, and its consortium partner to proceed with the execution of the agreement in accordance with the terms laid out.
In line with the court’s directive, the Government of Rajasthan has now issued a fresh LoA, which has been officially received by the company. Krsnaa Diagnostics and TCIL will move forward with entering into the agreement with the NHM.
Financials and more
Krsnaa Diagnostics reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 12 percent, rising from Rs. 166 crores in Q4 FY24 to Rs. 186 crores in Q4 FY25. Likewise, during the same period, the company’s net profit increased from Rs. 19 crores to Rs. 21 crores, representing a growth of over 10 percent YoY.
Krsnaa Diagnostics Limited is primarily engaged in the business of providing diagnostic services primarily in relation to pathology investigations, radiology investigations and tele-reporting. It is one of India’s largest teleradiology reporting hubs with the capability to scale the process of X-rays, CT scans and MRI scans and serves patients in remote locations. As of Q4 FY25, it has 180 CT/MRI centres, 117 pathology labs, 3,500+ patient collection centres, with a presence in 18 states/UTs.
Written by Shivani Singh
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