HCG Reports 10.6% YoY Revenue Growth In Q3 FY24

HealthCare Global Enterprises (HCG), a healthcare services provider focusing on oncology and fertility, has announced robust financial results for the quarter ended December 31st, 2023, and the nine months of FY24.

In a press statement on Friday the company stated that in Q3 FY24, HCG reported a consolidated revenue of Rs 4,699 million, showcasing a significant 10.6 per cent year-on-year growth. The cumulative revenue for the nine months of FY24 amounted to Rs 14,175 million, reflecting a remarkable 13.2 per cent YoY growth. The company's EBITDA for Q3 FY24 reached Rs 826 million, demonstrating a growth of 6.8 per cent YoY, and for the 9M FY24, it stood at Rs 2,455 million, with an 8.0 per cent YoY increase.

Dr B.S. Ajaikumar, Executive Chairman of HCG, commented on the results, emphasising the significant demographic changes in India, with a projected doubling of the population aged over 60 by 2050. He highlighted HCG's strategic position in addressing the anticipated surge in cancer cases, underlining the company's commitment to advancing focused cancer care through research and collaboration.

Raj Gore, CEO of HealthCare Global Enterprises , noted the quarter's standout performance, including a 15 per cent growth in Average Revenue per Occupied Bed (ARPOB), a remarkable turnaround in Kolkata with over 50 per cent growth, and a commendable 17 per cent growth in Mumbai. He also introduced HCG Care, a comprehensive cancer care app offering a seamless patient journey from consultation to post-discharge follow-ups.