Narayana Hrudayalaya's Profit Hikes By 66.4% YoY In Q1 Results

Narayana Hrudayalaya, a leading healthcare service provider in India on Wednesday announced its financial results for the first quarter (Q1 FY24) ended June 30, 2023. The healthcare provider recorded its consolidated revenue at Rs 1,233 crores for Q1 FY24 as compared to Rs 1,033 crores in the corresponding period of the previous year, reflecting an increase of 19.4  per cent YoY and 1.0 per cent QoQ.

Narayana's consolidated EBITDA stood at Rs 2,85 crores, reflecting a margin of 23.2 per cent as against Rs 2,00 crores in Q1 FY23, translating into YoY growth of 42.9 per cent and a decrease of 1.6 per cent QoQ.

The hospital's consolidated Profit After Tax (PAT) stood at Rs 184 crores, reflecting a margin of 14.92 per cent as compared to Rs 110 crores in Q1 FY23, translating into YoY growth of 66.4 per cent and QoQ growth of 6.2 per cent respectively.

Dr Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya, said “The first quarter of the new fiscal year has started with a robust performance. We are pleased to report the highest-ever revenue on a quarterly basis with profitability sustaining at high levels. The international patient mix remains flat, and the payor mix and speciality mix is in-line with the last quarter of the previous fiscal year."

Dr Rupert further added, "Our overseas business at Cayman continues to contribute to overall performance, achieving the highest ever revenue and profitability on a quarterly basis, which is attributed to increased patient footfalls.”  

Narayana Hrudayalaya's stock was trading 0.54 per cent higher at Rs 1,020.30 per scrip on Thursday as of 12:53 IST on BSE.