HCG Reports Strong Q4 & FY24 Results With 13 % Annual Revenue Growth

HealthCare Global Enterprises (HCG), a speciality healthcare services provider focused on oncology and fertility, announced its audited financial results for the fourth quarter (Q4) and full fiscal year (FY24) ending March 31st, 2024.

In a press statement on Friday, HCG revealed that it reported robust financial performance, with Q4 FY24 revenue at Rs 4,946 million, reflecting a 12 per cent year-on-year growth compared to Rs 4,417 million in Q4 FY23. For the entire FY24, the revenue reached Rs 19,121 million, marking a 13 per cent year-on-year increase.

In the quarterly performance for Q4 FY24, HCG achieved a revenue of Rs 4,946 million, up 12 per cent year-on-year from Rs 4,417 million. The Adjusted EBITDA was Rs 941 million, up 21 per cent year-on-year from Rs 778 million, with a margin of 19.0 per cent. The Reported EBITDA stood at Rs 920 million, up 21 per cent year-on-year from Rs 763 million, with a margin of 18.6 per cent. Profit Before Tax (PBT) was Rs 282 million, up 115 per cent year-on-year from Rs 131 million. Profit After Tax (PAT) reached Rs 213 million, up 154 per cent year-on-year from Rs 84 million. Earnings Per Share (EPS) increased to Rs 1.5 from Rs 0.6.

For the annual performance in FY24, HCG's revenue was Rs 19,121 million, reflecting a 13 per cent year-on-year growth. The Adjusted EBITDA for the year was Rs 3,374 million, showing an 11 per cent year-on-year increase.

Operationally, HCG's established centres achieved an EBITDA of Rs 844 million, a 9 per cent year-on-year growth. Emerging centres saw a significant increase, with an EBITDA of Rs 176 million, a 117 per cent year-on-year rise from Rs 81 million. The overall ARPOB (Average Revenue Per Occupied Bed) was Rs 41,802, up 10 per cent from Rs 38,042 in Q4 FY23. The overall AOR (Average Occupancy Rate) was 64.2 per cent, down slightly from 65.4 per cent in Q4 FY23.

HCG plans to expedite growth through strategic acquisitions and is establishing two new hospitals in North Bangalore and Whitefield, each with 125 beds, set to be operational within 12-15 months. The launch of the 'HCG CARE' smart app suite enhances the patient experience by providing seamless access to medical records and treatment information. The app has benefited over 56,000 outpatients and engaged 300 consulting doctors.

Dr B.S. Ajaikumar, Executive Chairman of HCG, expressed satisfaction with the performance, stating, "HCG has achieved sustainable cancer care outcomes comparable to premier centres globally. Our commitment to providing value-based care and utilising best-in-class technology and talent has been pivotal."

Raj Gore, CEO of HCG, added, "Our Q4 FY24 revenue growth of 12 per cent year-on-year and Adjusted EBITDA growth of 21 per cent reflect our strategic enhancements and operational efficiency. We are poised to expand further through strategic acquisitions and the development of new facilities, enhancing our capacity to meet the growing demand for cancer care."