Medanta hospital chain operator Global Health has released its financial results for the April-June quarter for the 2023-24 fiscal year. The company reported a stellar jump of 73.75% in its consolidated net profit at Rs 102.01 crore for Q1FY24.

The company’s revenue from operations saw a 25.28% growth to Rs 773 crore. In contrast, the revenue from international patients grew by 45% to Rs 47.7 crore.

The ARPOB (Average Revenue Per Occupied Bed) saw a substantial 7.1% increase from the year-ago quarter at Rs 63,148.

The hospital chain added 28 new beds at its Patna facility. Its total bed count as of 30 June was 2,725 beds from 2,697 beds reported in the last quarter of the previous fiscal year.

The EBITDA margins also grew by 2.5% to 25.1% from the 22.6% reported in the year-ago quarter.

New Ventures

The company has announced its plans to develop a 400-bed super-speciality hospital in Delhi to strengthen its presence in our nation’s capital, taking its bed count to around 2,400 in the region.

The new project is in partnership with DLF, with both contributing 50-50% into the new venture. Medanta will run the hospital and have operational control, while DLF will be a strategic investor.

Pankaj Sahni, Group CEO and Director of Global Health said that this new 400-bed super special hospital will allow the company to serve patients across the entire NCR belt by linking their facilities in Gurugram, Delhi, and Noida.

The hospital will have over 20 specialities providing cutting-edge medical and surgical interventions with a comprehensive cancer care unit.

The company also plans to add around 800-1,300 beds over the next two-three years. Out of the total, 770 beds, or 60% of the new capacity, will be added at existing hospitals, leading to lower capital expenditure per bed.

The shares of Global Health Ltd opened up green, but at 11:05 am, the shares were trading at Rs 688.15 or 0.24% below its previous close of Rs 689.80 on NSE.