Profit up 53% at Rs 123.54 cr, revenue up 19.9%

Business Standard


Medanta

Image source: Medanta website


Global Health Limited, which operates the Medanta Hospitals, reported a 53 per cent year-on-year (Y-o-Y) rise in consolidated net profit for the December quarter (Q3 FY24) to Rs 123.54 crore, while its revenue from operations grew by 19.91 per cent to Rs 832.60 crore.


Sequentially, the consolidated net profit fell by 1.29 per cent from Rs 125.16 crore, whereas revenue fell by 1.34 per cent from Rs 843.93 crore in Q2 FY24.


Its earnings before interest, taxes, depreciation, and amortisation (Ebitda) was at Rs 212 crore against Rs 160 crore in the same quarter of the previous financial year. The Ebitda margin for the December quarter was reported at 25.5 per cent as against 23 per cent for the same period a year ago.


The company reported a 4 per cent Y-o-Y increase in the average revenue per occupied bed (ARPOB) in Q3 FY24. The rise in revenue was attributed to an increase in realisation at the hospital’s Gurugram unit. The hospital’s average bed occupancy grew by 8.7 per cent, at 64.2 per cent.


International Patient revenues grew by 6 per cent Y-o-Y to Rs 473 crore in the December quarter, contributing 6 per cent to overall hospital business revenues as against 7 per cent in the same quarter last fiscal.


Specialties such as Cardiology (22.2 per cent), Oncology (12.3 per cent), and Neurology (11.4 per cent) were the best-performing specialties for the hospital in Q3 FY24.


The company announced results post-market hours. Global Health Limited stock was up by 1.97 per cent on the NSE to Rs 1,260 apiece.


Commenting on the results for the quarter, Pankaj Sahni, group chief executive officer and director, Global Health Limited said that both matured and developed units delivered a robust revenue growth of 17 per cent and 33 per cent Y-o-Y respectively. “This growth has primarily been driven by increased in-patient volume and improved realisation,” he added.

First Published: Feb 08 2024 | 10:53 PM IST



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