Healthcare Facilities company Global Health announced Q2FY24 & H1FY24 results:
- Q2FY24:
- Total income of Rs 8,647 million; growth of 24.5% YoY
- EBITDA of Rs 2,336 million; growth of 35.7% YoY
- EBITDA margins improved from 24.8% in Q2FY23 to 27% in Q2FY24
- Profit after tax was at Rs 1,252 million; up by 46.1% YoY
- Average Occupied bed days increased by 17.8% YoY, representing an occupancy of 64.9% in Q2FY24
- ARPOB grew by 4.8% YoY to Rs 61,003; In-patient count increased by 19.4% and Out-patient count increased by 23.2% YoY
- Developing hospitals (Medanta Lucknow and Medanta Patna) revenue share increased from 27% in Q2FY23 to 31% in Q2FY24 amounting to Rs 2,643 million. Developing Hospital EBITDA share increased from 33% in Q2FY23 to 38% in Q2FY24 amounting to Rs 897 million
- Matured hospitals registered a strong growth of 19.5% YoY and EBITDA growth of 32.8% YoY amounting to Rs 6,064 million and Rs 1,545 million respectively
- Revenue from international patients increased by 20% YoY to Rs 507 million driven by increased volumes and realization
- OPD pharmacy business continues to register strong growth. Revenue increased by 39% YoY from Rs 215 million in Q2FY23 to Rs 298 million in Q2FY24
- H1FY24:
- Total income of Rs 16,592 million; growth of 25.6% YoY
- EBITDA of Rs 4,329 million; growth of 38.0% YoY
- EBITDA margins improved from 23.7 % in H1FY23 to 26.1% in H1FY24
- Profit after tax of Rs 2,272 million; growth of 57.3% YoY
- Average Occupied bed days increased by 17.1% YoY, representing an occupancy of 61.5% in H1FY24
- ARPOB grew by 5.9% YoY to Rs 62,011 in H1FY24; In-patient volume increased by 19.4% and Out-patient volume increased by 20.5% YoY in H1FY24
- incurred Capex of Rs 1,276 million incurred during H1FY24, out of which Rs 308 million was incurred towards Noida hospital
Commenting on Q2FY24 results, Pankaj Sahni, Group CEO and Director said, “We are pleased to report that the Company continues to deliver strong year-on-year and sequential growth across key performance indicators. The growth was seen at both matured and developing units, driven by higher patient volumes, underpinned by bed growth, doctor additions, and technology advancement. During the quarter, we received NABH accreditation for Patna Hospital, this accreditation reflects our commitment to deliver the highest quality healthcare in underserved markets. Our Noida hospital construction is on track and is expected to commence operations by FY2025 the end. As we move forward, we remain committed to executing our planned strategies while maintaining the highest quality and ethics as demonstrated by our ‘Medanta Model of Care’.