Medanta Q1 results: PAT rises by 4% to Rs 106 cr, revenue at Rs 861 cr

Naresh Trehan said that the company has received confirmation from MHADA regarding a successful bid for a land parcel measuring 8,859.24 square meter at Mauje-Oshiwara, Jogeshwari, Mumbai

Global Health, which operates hospitals under the Medanta brand, on Friday said its consolidated profit after tax increased 4 per cent year on year to Rs 106 crore for the first quarter ended June 30, 2024.

The company had reported a profit after tax (PAT) of Rs 102 crore in the April-June quarter.

Revenue from operations rose to Rs 861 crore in the June quarter as compared to Rs 779 crore in the year-ago period, Global Health said in a regulatory filing.

Medanta Chairman & Managing Director Naresh Trehan said that on July 22, 2024, the company has received confirmation from the Mumbai Housing and Area Development Authority (MHADA) regarding a successful bid for a land parcel measuring 8,859.24 square meter at Mauje-Oshiwara, Jogeshwari, Mumbai.

 

"This pivotal step marks Medanta's entry into the dynamic Mumbai market, where we plan to establish a 500-plus-bedded super-speciality hospital," he added.

The facility will provide medical services and advanced treatment options to the residents of Mumbai and surrounding regions, he added.

The healthcare provider aims to invest around Rs 1,200 crore on the project.

Shares of Global Health on Friday ended 3.79 per cent down at Rs 1,132.10 apiece on the BSE.