Yatharth Hospital Reports Q2 FY24 Performance With 70% PAT Growth

Yatharth Hospital and Trauma Care Services, a private hospital in Delhi NCR, declared financial results for the quarter ending September 30, 2023, the hospital informed in a press statement on Wednesday.

For the second quarter of the fiscal year 2024, the company said, Revenue from Operations reached a remarkable Rs. 1,713 million, representing a substantial 34 per cent year-on-year (YoY) increase. This was complemented by an impressive 11 per cent quarter-on-quarter (QoQ) growth, the company added.

The hospital's impressive performance was not confined to revenue alone. Their Profit after Tax (PAT) saw a substantial increase, reaching Rs. 276 million, marking an outstanding 70 per cent  YoY growth and a significant 45 per cent QoQ rise. The PAT margin expanded by 345 bps YoY to reach 16.1 per cent.

The hospital achieved an EBITDA of Rs. 456 million, signifying a substantial 36 per cent YoY growth and a noteworthy 10 per cent QoQ increase. The EBITDA margin expanded by 40 basis points (bps) YoY to 26.6 per cent, the statement from the hospital read.

For the first half of fiscal year 2024, the hospital reported an Operating Revenue of Rs. 3,258 million, showcasing a substantial 36 per cent YoY increase.

Additionally, the hospital reported a significant improvement in their Bed Occupancy, which stood at 54 per cent for the first half, compared to 42 per cent in H1FY23. The Average Revenue Per Occupied Bed (ARPOB) also witnessed a notable increase, reaching Rs. 27,833, up 6 per cent YoY.

As of September 30, 2023, the hospital maintained a net cash balance of Rs. 3,109 million.

Furthermore, the Return on Capital Employed (RoCE) stood at an impressive 25 per cent, while the Return on Equity (RoE) reached 19 per cent during this period.

Yatharth Tyagi, Whole Time Director, Yatharth Hospitals, expressed his delight at the hospital's exceptional performance. He emphasised a 34 per cent YoY growth in revenue and a substantial 70 per cent increase in Profit After Tax (PAT) compared to the same period last year. He also noted that the hospital has achieved a net debt-free status, marking a significant milestone.