Medanta Q4 results: Net profit jumps 477% to ₹101 Cr, revenue rises 37% YoY
Healthcare provider Global Health (Medanta) on Monday said its net profit reached ₹101 crore in the fourth quarter ended on March 31, 2023 compared to a net profit of ₹17.5 crore in the January-March quarter of 2021-22 fiscal, representing a five-fold jump of 477% YoY.
PremiumHealthcare provider Global Health (Medanta) on Monday said its net profit reached ₹101 crore in the fourth quarter ended on March 31, 2023 compared to a net profit of ₹17.5 crore in the January-March quarter of 2021-22 fiscal, representing a five-fold jump of 477% YoY. Revenue in the reporting quarter rose 37 per cent year-on-year to ₹732 crore.
Medanta reported a net profit of ₹326 crore for the fiscal year that ended on March 31, 2023, up from ₹196 crore in the preceding year.
Revenue rose to ₹2,759 crore in 12MFY23 as compared to ₹2,206 crore in 12MFY22.
Commenting on FY2023 and Q4 FY2023 results, Mr. Pankaj Sahni, Group CEO and Director said: “We are pleased to report that we continue to deliver on our strategy of sustainable and steady growth. For the year and quarter ending March 31, 2023 we have registered significant growth and strong financial performance across all revenue and profitability metrics. Medanta Patna is the latest unit of the Group that has delivered EBITDA breakeven in its first full year of operations. We continue our planned growth in beds and infrastructure, and remain an attractive destination for leading clinical talent which is highlighted by the addition of over 150 senior clinicians in the last fiscal year across the Group. Significant accomplishments of our clinical teams have been internationally recognized by Newsweek for the fourth consecutive year with Medanta Gurugram ranking as the ‘Best Private Hospital’ in India."
According to the report "An assessment of the healthcare delivery market in India, September 2022" by CRISIL Limited, Global Health Limited is one of the largest private multi-specialty tertiary healthcare organisations operating in the North and East regions of India, with key areas of expertise in cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology.
The shares of Global Health closed today on the BSE at ₹587.95 apiece up by 1.05% from the previous close of ₹587.95.
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