Narayana Hrudayalaya surges 8% on good Q4 results

The company reported consolidated net profit of Rs 22 crore in Q4 against Rs 5 crore in year ago.

Narayana Hrudayalaya moved higher by 8% to Rs 319 on the BSE in noon deals after the company reported more than four-fold jump in its consolidated net profit at Rs 22 crore in March quarter (Q4FY17). The company engaged in healthcare services business had logged profit of Rs 5 crore in the same quarter of last fiscal year.

Consolidated total operating income grew 13% to Rs 484 crore in Q4FY17 against Rs 428 crore in the corresponding quarter of previous year. Ebitda (earnings before interest, tax, depreciation and amortization) margin during reporting quarter was at 13.6% as against 12.5% in Q4FY16, showing an improvement by 114 basis points (bps).

Commenting on the performance, Dr. Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said “We are pleased to demonstrate noteworthy performance in the quarter and the year gone by amidst the regulatory headwinds affecting our business on multiple counts. The steady ramp-up in our newer hospitals buoyed by the sustained performance of mature hospitals continue to drive our revenues, and at the same time, our changing business mix is improving our profitability profile.