HealthCare Global Enterprises (HCG) Records Robust Q2 EBITDA Growth, Aims For 20 per cent Margin By FY24-25

HealthCare Global Enterprises (HCG) has reported consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) growth in the second quarter, reaching Rs. 846 million, marking a 13 per cent year-on-year increase (14 per cent quarter-on-quarter). HCG now eyes an EBITDA margin close to 20 per cent by Q4FY24 or Q1FY25, the company said in a press statement on Monday.

HCG is expecting Q2 EBITDA of Rs. 846 million which is supported by the profitability of existing centres, showcasing an 8 per cent year-on-year growth (9 per cent quarter-on-quarter) to Rs. 832 million. New centres reported a substantial EBITDA growth of 21 per cent year-on-year (23 per cent quarter-on-quarter) to Rs. 122 million. 

The Nagpur unit of the company reported an EBITDA of Rs. 21 million, with expectations of higher EBITDA growth in Q3-Q4FY24 from both units. 

The statement from the company highlighted that the  Mumbai, Kolkata, and Nagpur units have seen revenue growth of 41 per cent, 42 per cent, and 60 per cent, respectively.