Narayana Hrudayalaya, a leading healthcare service provider today announced lower net profit at Rs 14.1 crore after minority interest and share of loss in associates in Q3 FY18 as compared to Rs 16.6 crore in the same period last year.
The consolidated total operating income was Rs 553.8 crore for Q3 FY18 as compared to Rs 455.3 crore in the corresponding period of the previous year, reflecting an increase of 21.7 per cent, a company statement said here.
Consolidated EBITDA stood at Rs 55.2 crore, reflecting a margin of 10 per cent as against Rs 56.5 crore in Q3 FY17.
The company said it has successfully consummated the acquisition of the partner's entire stake in Cayman Islands Hospital, making it a wholly owned subsidiary of the company.
"The third quarter delivered an impressive 21.7 per cent year-on-year growth in revenues on the back of a stellar growth in volumes across our network amidst the challenging regulatory environment.
"The results in this quarter are very inspiring for us considering that the third quarter is usually a seasonally moderate quarter as it marks the onset of festival season which affects the patients' footfall and thus the overall business," Narayana Hrudayalaya vice chairman and managing director Ashutosh Raghuvanshi said.
"We successfully consummated the acquisition of entire partner stake in our Cayman Islands hospital. We remain confident that this shall provide significant boost to our Group's profitability and thereby augment its cashflows," he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
