Shalby Limited has announced financial results for Q3FY24
Consolidated revenue in Q3FY24 was Rs 2,206 million an increase of 6.8% YoY from Q3FY23.
Consolidated PAT was Rs 191 million in Q3FY24, an increase of 24.8% YoY from Q3FY23.
Consolidated EBITDA was Rs 468 million in Q3 FY24, an increase of 23.3% YoY from Q3FY23.
ARPOB during the quarter was 37,342, a growth of 9% YoY.
“I am happy to report that our hospital business continued to deliver consistent performance in all key operational and financial parameters with occupancy and In-patient count (Incl daycare) growing by 8.4% and 15.2% Y-o-Y respectively in Q3 FY24. Hospital revenue and EBITDA also grew by 11.5% and 25.6% Y-o-Y with robust EBITDA margin of 24.2% in Q3 FY24, “said Shanay Shah, President.
He said ARPOB and ALOS were recorded at Rs.37,342 and 3.79 respectively in Q3 FY24 vis-à-vis Rs 36,291 and 3.74 in the same quarter of the previous year.
“Our core specialties such as Arthroplasty, Oncology, Cardiac Science, Orthopedic, Critical care & General Medicine, and Neurology contributed 83% to the revenues respectively in Q3 FY24. We are happy to announce our strategic entry into northern India with the acquisition of an 87.26% stake in 130 Beds Sanar International Hospital. Sanar offers comprehensive, advanced surgical care in specialties such as Cancer, Heart, Blood and Marrow Transplant, Kidney & Liver Transplant, Bone & Joint, and Neurosciences among other specialties with 70% business from international markets catering to more than 60 countries,” he said.
“Homecare business showed a strong performance grew by 30% y-o-y in Q3 FY24, from Q3 FY23. Shalby Academy vertical also showed an encouraging response with 400+ students enrolled for various healthcare programs during Q3 FY24,” he added.
Deepak Ananthakrishnan, Global Chief Business Officer said other than the Hospital business, the growth platforms like the SOCE Franchise business and Implant business have also delivered a healthy performance in Q3 FY24.
“I am happy to inform that our SOCE Franchise business has delivered 10.7% growth in Q3-FY24 from Q3-FY23. Moreover, our focus remains on capitalizing our expertise and excellence in Orthopedics to have over 40 Shalby franchise hospitals across 30 cities in India. Our implant business made some satisfactory strides during the third quarter of this financial year with revenues of INR 215 million, wherein the USA and India contributed 43% and 57% respectively. Our US customer sales mix from retail and wholesale remained at 59% and 41% respectively in Q3 FY24,” he said.
“Further, we are staying focused on adding more talent and building a strong team with the right attitude, shifting our sales to retail customer mix from wholesale, continuously increasing operational capacity and thereby efficiencies, adding new products pipeline supported with extensive research & development activities and substantially bringing down our procurement costs. We continue to receive very positive response from the consumption of our Shalby-Consensus implants in our hospitals as well as we got another couple of orders from the Indonesian market.”
He said with all the key strategies in place, their team is extremely committed to flawless execution of these strategies. “Shalby is well poised to deliver double-digit growth in the hospital business with sustainable profitability, deepen and increase our footprints by adding Orthopedic units under SOCE. All this, in turn, will drive to create sustainable value for all stakeholders at Shalby,” he said.