Rainbow Children’s Medicare (RCML), a pediatric multi-specialty and perinatal care hospital chain in India, has unveiled its financial results for the first quarter ended June 30, 2024.
The company in a press statement on Wednesday informed that it reported a robust 15 per cent increase in revenue, driven by the successful completion of three new hospital expansions in Hyderabad, Bengaluru, and Chennai.
Despite the traditionally slower summer period, RCML achieved a notable 15 per cent growth in revenue compared to the same quarter last year. EBITDA growth was moderated due to initial costs associated with the new facilities, but the company remains confident in the long-term benefits of these investments. The financial highlights for Q1 FY25 include revenue of Rs. 3,302.2 million, up 15.0 per cent from Rs. 2,871.7 million in Q1 FY24. EBITDA stood at Rs. 937.2 million, reflecting a 6.9 per cent increase from Rs. 877.0 million in the previous year. PAT was Rs. 397.3 million, a decrease of 4.2 per cent from Rs. 414.9 million in Q1 FY24.
Operationally, RCML saw significant progress, with capacity beds increasing by 17 per cent to 1,935 from 1,655 in Q1 FY24. Operational beds rose by 18 per cent to 1,523 from 1,290 in the same period. Occupancy improved to 42.4 per cent, up 151 basis points from 40.9 per cent. The number of inpatient discharges increased by 10 per cent to 21,289 from 19,323, and deliveries rose by 10 per cent to 4,077 from 3,699.
The press statement further highlighted the key developments including ongoing progress on new hospitals in Hennur, Bengaluru, and Rajahmundry, which are expected to commence operations by the end of Q4 FY25. Additionally, the development of a new regional hub hospital in Coimbatore is underway. RCML has also registered land parcels in Gurugram and is advancing with architectural designs for new projects. The company maintains a strong balance sheet with Rs. 5,180 million in cash, cash equivalents, and investments, supporting its ongoing capital expenditures and future growth.
Dr. Ramesh Kancharla, Chairman & Managing Director of RCML, commented, “We are pleased to report a strong performance this quarter. The 15 per cent increase in revenue and 6.9 per cent growth in EBITDA underscore the success of our expansion strategy. Despite a minor dip in PAT due to new hospital costs, our focus remains on driving occupancy and optimising operations. We are confident in our continued growth and ability to deliver exceptional care.”
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