Q3FY24: KIMS Hospital net profit down 6.4%

Krishna Institute of Medical Sciences (KIMS Hospitals) announced the financial results for the third quarter and nine months ending December 31, 2023.

• Gross revenue was Rs 609 crore for Q3FY24, which is an increase of 7.1% on a YoY and a decrease of 7.1% on a QoQ basis.
• The operating EBITDA was Rs 150 crore for the Q3 FY24, a decrease of 4.6% on a YoY and 16.5% on a QoQ basis.
• The EBITDA margin was at 24.7% against 27.7% in Q3FY23 and 27.5% in Q2FY24.
• The PAT was Rs 77 crore in Q3FY24 against Rs 82 crore and Rs 101 crore in Q3FY23 and Q2FY24 respectively.
• The bed occupancy in Q3FY24 was 72.2%, up by 3.9% on a YoY and down by 4.2% on a QoQ basis.
• ARPOB decreased marginally to Rs 30,741 in Q3FY24, an increase of 3.1% on a YoY and 1.3% decrease on a QoQ basis.
• Cash and cash equivalents were Rs 105 crore in Q3FY24. Net debt-to-equity ratio was 0.33

“We have seen a dip in patient footfalls this quarter. Traditionally, this happens to be slack season on account of festivals. Besides, the cyclone in Andhra Pradesh and assembly elections in Telangana have shown some impact. However, I am particularly pleased to see that all our units have continued to produce excellent clinical outcomes. We should be opening our Nashik unit in Q1FY25. I am optimistic that we are on track to achieve our targets for FY 24,” said Dr B Bhaskar Rao, CMD, KIMS Hospitals.
MB Bureau