Vijaya Diagnostic Centre Ltd share Price

Healthcare Services company Vijaya Diagnostic Centre announced Q4FY23 & FY23 results:

• Q4FY23:
  • Revenue from Operations increased by 4.1% YoY to Rs 1,210 million, Non-Covid Revenues grew by 22.4% YoY
    • The Non-COVID growth was driven by both radiology and pathology segments, highlighting the strength of our integrated model.
    • During Q4FY23, the Non-COVID business comprised 99% of the total revenue share as against 85% of revenue share in Q4FY22
    • Wellness share in Q4FY23 was up at 13.4% as against 8.4% in Q4FY22
    • Revenue composition from the B2C segment stood at 94.8%
  • EBITDA stood at Rs 491 million. EBITDA margin for the quarter was 40.6% as against 41.2% in Q4FY22
  • PAT stood at Rs 275 million. translating into a PAT margin of 22.7%
• FY23:
  • Revenue from Operations stood at Rs 4,592 million as against Rs 4,624 million in FY22, NonCovid Revenues grew by 14.7% YoY
    • Wellness share in FY23 was up at 12.1% as against 6.8% in FY22
    • Revenue composition from the B2C segment continued to stay strong at 95%
  • EBITDA stood at Rs 1,820 million. EBITDA margin for FY23 was 39.6%
  • PAT stood at Rs 846 million. translating into a PAT margin of 18.4% in FY23

Commenting on the performance Suprita Reddy, CEO said, "We are extremely delighted to announce that Q4 witnessed the stellar performance, with the achievement of the highest ever quarterly Non-COVID revenue growth of 22.4% year-on-year. This was characterised by strong performance in both radiology and pathology segments, reinforcing the strength of our integrated model.

We consistently maintained our expansion momentum this quarter, expanding by 2 new hubs, 1 spoke and 2 mini spokes, taking the total centre count to 121. A noteworthy achievement during the quarter was the successful inauguration of VDCL’s state-of-the-art facility in Tirupati, Andhra Pradesh. Despite it being a relatively new location, we are glad to share that the customer response and the acceptance of our brand have been phenomenal.

It is a thing of great joy and pride that our Rajahmundry and Punjagutta hubs have demonstrated consistent performance amidst immense competition in the diagnostic space and achieved an operating break-even within an extremely short span of just two to three quarters from the commencement of operations.

The recently implemented comprehensive LIMS has successfully stabilized and is being effortlessly used across all our centres. This marks the fulfilment of a crucial milestone, enabling us to streamline operations and enhance efficiency on a larger scale, across our vast network of centres.

Taking progressively steady strides towards patient convenience and a holistic patient experience, we have successfully built and launched a robust and easy-to-use mobile app that significantly enhances the overall patient experience. It is available for all test types, both in radiology and pathology alike, making it one-of-a-kind in the diagnostic space. This all-encompassing app is available for both iOS & Android. The company has also completed the successful roll-out of a fully functional e-commerce website.

Our informed strategy of digital transformation, market research-backed approach for new market expansion and concentration on the enhancement of our network of centres will ensure sustainable year-on-year growth. We aim to adopt the highest standards of quality and to deliver a holistic customer experience whilst employing the most advanced technology and we firmly believe that this will enable us to make the most of the ever-evolving opportunity for growth in the diagnostic space."

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