NHL reported strong numbers led by flagship hospitals amid recovery in high-end cardiac elective work as well as international patient mix.
- Revenues were up 27.9% YoY to | 959.6 crore
- EBITDA was at | 175 crore, up 66.8% YoY with margins at 18.2%
- Adjusted PAT was at | 97.5 crore (up 138.9% YoY)
Key triggers for future price performance
- Waning Covid and increase in footfalls for medical tourism expected to lead flagship hospitals on a steady growth path amid better returns
- New hospitals (SRCC, Gurugram, Dharamshila) are likely to see reduction in losses and turn profitable in medium term with ramp up in occupancies
- Improvement in numbers on the back of judicious case mix identification (more focus on oncology, transplants and non-invasive procedures)
- Expansion at Cayman Islands in oncology while being margin dilutive in near term is likely to provide significant additional operating leverage
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