HealthCare Global Enterprises (HCG), a leader in India’s oncology and fertility specialty healthcare services, has reported strong financial results for the second quarter (Q2) and first half (H1) of the fiscal year ending September 30, 2024. HCG’s consolidated revenue for Q2 reached Rs 5,535 million, reflecting a 14 per cent year-on-year increase, while revenue for H1FY25 stood at Rs 10,791 million, also showing a 14 per cent growth.
In addition to revenue growth, HCG demonstrated robust gains across key financial indicators. For Q2, the company reported an adjusted EBITDA of Rs 1,042 million, marking a 21 per cent year-on-year increase with an EBITDA margin of 18.8 per cent. HCG’s PAT reached Rs 180 million, reflecting a significant 59 per cent increase over the same period in the previous year. Established centers contributed an EBITDA of Rs 1,131 million, growing by 20 per cent year-on-year, while emerging centers recorded an EBITDA of Rs 30 million, an increase from Rs 6 million in Q2FY24.
Several regions delivered high double-digit revenue growth, with notable performances from HCG’s Kolkata center, which reported a 66 per cent year-on-year increase, and Ongole, which grew by 46 per cent. Nagpur, Nashik, and Jaipur centers also saw substantial year-on-year growth at 32 per cent, 32 per cent, and 28 per cent, respectively. Furthermore, the HCG Cancer Hospital in Ahmedabad completed its Phase III expansion during this quarter, enhancing its capacity to provide comprehensive cancer treatment services.
HCG has also implemented a series of strategic investments in technology and infrastructure to support precision treatment and advanced diagnostics. The company’s digital revenue grew from 4 per cent to 14 per cent of total revenue in Q2FY25, as HCG capitalised on its digital initiatives to drive patient acquisition and engagement. The company aims to achieve 25 per cent of revenue from digital platforms within the next 3-5 years, a key part of its strategy to enhance accessibility to quality cancer care across India.
Commenting on HCG’s performance, Raj Gore, CEO of HealthCare Global Enterprises, shared that the company has posted its highest quarterly revenue to date, Rs 5,535 million, with EBITDA margins improving to 18.8 per cent from 17.8 per cent in the previous year. He noted that increased patient volumes and operational efficiencies have been primary drivers of this growth. Gore also highlighted that the recent acquisition of MG Hospital in Vizag has further strengthened HCG’s regional presence in a key oncology market, stating, “The Vizag acquisition is progressing well and has significantly bolstered our footprint, allowing us to meet the growing demand for specialised cancer care.”
Dr. B.S. Ajaikumar, Executive Chairman of HCG, expressed pride in the organisation’s dedication to providing high-quality, patient-centered cancer care. He remarked, “Our model centers on personalised care, ensuring every patient receives treatment precisely tailored to their cancer type and stage. We aim to make high-quality cancer care accessible to every patient battling cancer across India.” Dr. Ajaikumar further outlined HCG’s plans to establish additional Centers of Excellence in the coming years, modeled after HCG’s premier facilities in Bangalore and Ahmedabad, which are equipped with state-of-the-art infrastructure and top-tier clinical teams.
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