On a consolidated basis, Narayana Hrudayalaya's net profit jumped 30% to Rs 40.84 crore on a 4.4% decline in net sales at Rs 750.36 crore in Q3 December 2020 over Q3 December 2019.
Profit before tax (PBT) rose 3.4% to Rs 41.62 crore in Q3 December 2020 as against Rs 40.26 crore in Q3 December 2019. The Q3 result was declared after market hours on Friday, 5 February 2021.
As on 31 December 2020, the consolidated net debt was Rs 532.60 crore representing a net debt to equity ratio of 0.51 (out of which, debt worth $42.7 million is foreign currency denominated).
Commenting on the Q3 performance, Dr Emmanuel Rupert, the managing director (MD) and group chief executive officer (CEO) of Narayana Hrudayalaya, has said that: "With new Covid-19 cases waning across the country, we are encouraged by the business revival across the network. For the month of December, despite the flagship centres achieving 89% of pre-Covid (Feb,20) levels, India business has almost fully recovered. This has been possible due to the sustained momentum generated across units led by the Delhi NCR and hinterland regions.
"However, the profitability of the India business remains impacted given the significant erosion in international patient mix as well as high-end cardiac sciences based elective work as compared to the pre-Covid times. On a consolidated basis, on the back of consistent robust performance by our Cayman Islands facility, we are pleased to return to reporting YoY EBITDA growth for the quarter gone by. Overall, we believe that the healthcare sector is at an inflexion point with the effective implementation of the vaccine rollout program holding the key for expediting the business revival. At the same time, we remain vigilant over the developments taking place in other nations with respect to new strains of the virus to prepare ourselves accordingly," he added.
Shares of Narayana Hrudayalaya fell 1.84% to Rs 499.35. Narayana Hrudayalaya operates a chain of multispecialty, tertiary and primary healthcare facilities.
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