Vijaya Diagnostic Centre Limited, one of India’s leading integrated diagnostic chains has announced its Financial Results for the quarter and half year ended September 30, 2021.
Revenue from Operations came in at Rs1,127 Mn in Q2FY22 vs. Rs1,131 Mn in Q2FY21. Non-COVID revenue up by 22% yoy to Rs1,043 Mn and COVID revenue (RT-PCR & Antibody tests) declined 70% yoy to Rs84 Mn.
EBITDA stood at Rs511 Mn vs. Rs513 Mn in the corresponding previous quarter. EBITDA margin for the quarter was 45.4%. The company’s Profit After Tax (PAT) increased by 5% yoy to Rs277 Mn.
Revenue from Operations increased by 43% yoy to Rs2,354 Mn in H1FY22. Non-COVID revenue grew by 56% yoy from Rs1,326 Mn in H1FY21 to Rs2,064 Mn in H1FY22 while COVID revenue (RT-PCR & Antibody tests) declined by 10% yoy to Rs290 Mn. Revenue from B2C segment stood at 93%. EBITDA stood at Rs1,080 Mn, an increase of 66% over corresponding previous period; EBITDA margin for the first half was 45.9%.
The company said, PAT increased by 114% yoy to Rs607 Mn vs. Rs283 Mn in the corresponding previous period. Five new diagnostic centres opened during the first half of FY22. The total number of diagnostic centres stands at 85 as on September 30, 2021.
At around 11.12 am, Vijaya Diagnostic Centre Ltd was trading at Rs570.45 per piece up by Rs5.85 or 1.04% from its previous closing of Rs564.60 per piece on the BSE.
“We would like to thank the Investors for their great support in making our IPO successful. It has been a long and humble journey to see Vijaya grow as the most trusted and reputed integrated diagnostic chain. Vijaya’s hub and spoke model itself is a unique and tested model creating more meaningful presence & offerings to its customers.
Our core value is to provide reliable and accurate diagnostic services to our customers, at affordable prices, in a customer-centric manner. Our approach along with brand’s recognition for quality diagnostic services, results in high brand recall leading to over 90% of revenue from walk-in customers. We continue to deliver superior patient experience by introducing new patient centric, technology-enabled initiatives,” Suprita Reddy, CEO said.
He further added, “in the first half of current fiscal, we have opened 5 new centres to service our customers. Our operating revenue stood at Rs2,354 Mn in H1FY22; a growth of 43% yoy and EBITDA at Rs1,080 Mn with a growth of 66% yoy. We have seen a strong growth in our non-COVID business during this period.
Our strategy is to deepen our presence in core geographies and focus on under-penetrated markets by opening diagnostic centres through owned & franchisee model. We continue our endeavor to service the customers by enhancing laboratory capacity and tests by adding latest technologies. For this we continuously invest in technology, manpower and centre expansions which helps us accelerate our growth further in the coming years.”