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News: Revenues grew 14% YoY to ₹ 525 crore, driven by hospitals business which grew ~15%. Established centres grew 14% YoY to ₹ 464 core whereas Emerging centres grew 33% to ₹ 48 core. Fertility business Milan however de-grew 12% YoY to ₹ 14 crore. EBITDA grew 17% YoY to ₹ 91 crore and EBITDA margins stood at 17.3%. Overall ARPOB was at ₹ 42342, up 12% YoY. Overall occupancy was slightly lower at 66% against 67% in Q1FY24.
Views: We continue to monitor progress on ARPOB and occupancies improvement especially at the new centres. We expect ROCE at the new centres to improve in the due course. With growing cancer instances and better diagnosis mechanism, we believe the company is well poised to tap the incremental opportunities.
Impact: Positive