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SRL Diagnostics, part of the Fortis Group, is hopeful of shoring up revenues from overseas operations. A combination of fee-based income will be the prime mover. The company has begun to earn fees for management and operations of labs overseas, owned by different entities. It has also started earning revenue from foreign entities for high-end pathology and diagnostic services.
According to Sanjeev Vashishta, CEO, share of overseas revenues from these new channels is likely to move up to 10 per cent (of its total turnover) over the next five years against the present 3 per cent.
The Delhi-based firm reported a turnover of ₹858 crore last fiscal. While pathology accounts for 79 per cent of the revenue, 11 per cent comes from radiology and the remaining 10 per cent from other services. “We are hopeful of revenues from the international business moving up to 10 per cent over the next five years, especially from fee-based and outsourcing services,” he said.
Overseas expansionWhile SRL has operations in neighbouring countries such as Nepal, Sri Lanka and Dubai, it is also planning to enter African nations this year. Operations in the Republic of Congo are expected to begin from September. It is also partnering IFC and GE to have 40 laboratories in Nigeria in three phases. At least nine laboratories are expected to come up in Nigeria over the next eight months. In both these places, it will operate on a fee-based service model.
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