Narayana Hrudayalaya down 4%

Shares of Narayana Hrudayalaya fell 4 percent in early trade on February 15 even after the hospital chain reported a 22 percent year on year increase in December profit.

At 10 am, the stock was trading at Rs 1345.60 on the National Stock Exchange.

Narayana Hrudayalaya reported a 6.7 percent year-on-year increase in Q3FY24 revenue at Rs 1,203.6 crore. Net profit came in at Rs 188.1 crore, up from Rs 153.9 crore.

EBITDA grew 12 percent YoY tO Rs 296.8 crore, the company said in a regulatory filing after market hours on February 15.

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India operating revenue grew 5.4 percent to  Rs 959 crore and Cayman Islands 11.5 percent to Rs 257.6 crore.

Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya, said after a strong Q2, the third quarter delivered a steady performance across businesses, with a healthy year-on-year growth. The quarter-on-quarter growth was impacted due to festivals-related holidays.

Bengaluru-based Narayana Hrudayalaya has a network of 18 hospitals and three heart centers across India along with overseas presence in Cayman Islands.

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