Narayana Hrudayalaya soared 10.44% to Rs 604 after the company posted a consolidated net profit of Rs 99.34 crore in Q2 FY22 as against a loss of Rs 3.42 crore reported in Q2 FY21.
Net sales increased by 56.5% to Rs 940.28 crore in Q2 FY22 from Rs 600.73 crore posted in Q2 FY21. The company posted a profit before tax of Rs 116.24 crore in Q2 FY22 as against a pre tax loss of Rs 29.54 crore registered in the same quarter last year.Consolidated EBITDA stood sharply higher at Rs 181 crore in Q2 FY22 as against Rs 37.2 crore posted in Q2 FY21. EBITDA margin stood at 19.3% in Q2 FY22.
Commenting on the performance, Dr. Emmanuel Rupert, MD and Group CEO of Narayana Hrudayalaya said, With the effects of the second wave of the pandemic subsiding, our Indian operations staged a decent recovery during the quarter gone by, after the significant impact as observed in Q1 FY 22. With new Covid-19 cases waning across the country, we remain encouraged by the business momentum revival across the network. However, the profitability of our flagship Health City, Bengaluru centres remain affected, as compared to the pre-Covid times, given the erosion in international patient mix as well as high-end cardiac sciences based elective work. Overall, we are pleased to report record profitability during the period on the back of recovery in Indian operations aided by our international ventures at Cayman Islands and hospital project management at St. Lucia. Looking ahead, with the vaccination coverage expanding by the day, we are hopeful that business activity will resume its pre-covid growth trajectory. At the same time, we remain vigilant over the developments taking place globally with regards any fresh wave of infection to prepare ourselves accordingly in case of any further disruptions.
Shares of Narayana Hrudayalaya hit a record high of Rs 623 in intraday today. The counter has gained 88.7% from its 52-week low of Rs 330 posted on 11 November 2020.
Narayana Hrudayalaya operates a chain of multi specialty, tertiary and primary healthcare facilities.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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