Yatharth Hospitals Posts 21% Revenue Surge In Q3 FY2024

Yatharth Hospital and Trauma Care Services, a  private superspeciality hospital in Delhi NCR, reported robust financial results for the quarter and nine months ending December 31, 2023. The company in a press statement on Monday said, that in the third quarter of FY2024, the company witnessed an impressive 21 per cent year-on-year (YoY) increase in revenue, reaching Rs. 1,668 million. Additionally, the hospital achieved a substantial 39 per cent YoY growth in Profit after Tax (PAT), amounting to Rs. 295 million.

The statement from the company further stated that in Q3 FY2024, key highlights include increased bed occupancy to 52 per cent, compared to 49 per cent in the same period of the previous year. The Average Revenue Per Occupied Bed (ARPOB) also showed a noteworthy uptick, reaching Rs. 29,309, marking a 14 per cent YoY increase and a 6 per cent quarter-on-quarter (QoQ) growth. Furthermore, the hospital's finance cost saw a remarkable 97 per cent YoY reduction, lowering to Rs. 2 million, reflecting prudent financial management.

The Hospital has successfully achieved a net debt-free status, enhancing its financial flexibility, the press statement read.

For the nine months ending December 31, 2023, Yatharth Hospitals sustained its financial momentum with operating revenue amounting to Rs. 4,926 million, a notable 31 per cent  YoY increase. Bed occupancy increased to 53 per cent, up from 44 per cent in the same period in the previous fiscal year. The ARPOB for this period stood at Rs. 28,316, reflecting an 8 per cent YoY increase.

The hospital's commitment to excellence and strategic expansion is further evident in its improved EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs. 1,334 million, showcasing a significant 40 per cent YoY growth. Profit after Tax (PAT) for the nine months reached Rs. 761 million, exhibiting a remarkable 57 per cent YoY increase.

Maintaining a net debt-free status, Yatharth Hospitals concluded the quarter with Net Cash of Rs. 2,814 million as of September 30, 2023.