Narayana Hrudayalaya Limited Reports Healthy Growth in Q2 FY19

Deepthi | Myequity news | Date : 31-10-2018 21:21:00 IST

Narayana Hrudayalaya Limited, a leading healthcare service provider in India, today announced its financial results for the second quarter (Q2 FY19) and six months (H1 FY19) ended September 30th, 2018.

Financial Highlights for Q2 FY19

▪Consolidated total operating income was Rs 7,113 mn for Q2 FY19 as compared to Rs 5,592 mn in the corresponding period of the previous year, reflecting an increase of 27.2%

▪Consolidated EBITDA stood at Rs 761 mn, reflecting a margin of 10.7% as against Rs. 638 mn in Q2 FY18

Financial Highlights for H1 FY19

▪Consolidated total operating income was Rs 13,636 mn for H1 FY19 as compared to Rs 10,803 mn in the corresponding period of the previous year reflecting an increase of 26.2%

▪Consolidated EBITDA stood at Rs 1,265 mn, reflecting a margin of 9.3% as against Rs. 1,194 mn in H1 FY18

As on September 30th, 2018, the consolidated net debt was Rs 7,710 mn representing a net debt to equity ratio of 0.73. (Out of which, debt worth US$ 57.6 mn is foreign currency denominated).

Other Highlights during the Quarter

▪Narayana Superspeciality Hospital, Howrah performed the first case of extracorporeal radiotherapy in Eastern India

▪NH established strategic foray into Bangladesh by entering into partnership for operating cardiac sciences department in a state- of-the art soon to be commissioned 350 bedded hospital

▪Rabindranath Tagore International Institute of Cardiac Sciences, Kolkata is now the 2nd facility in Eastern India to have successfully performed a heart transplant

▪Mazumdar Shaw Medical Centre, Bengaluru performed 15 kidney transplants and 9 liver transplants in Q2 FY19, thus cementing its position as a Centre of Excellence in organ transplant programs

▪NH SRCC Children’s Hospital, Mumbai, within 2 months of commissioning of its Bone Marrow Transplant (BMT) department has successfully completed 3 cases

▪NH won the “Master of Modern Marketing” Award in Best Digital Campaign for a Healthcare Enterprise category in August 2018

▪NH won the “Express Healthcare Excellence” Award by Indian Express Group in Best CSR Initiative category in July 2018

Commenting on the performance, Dr. Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said “We started fiscal year 2019 with the first quarter performance in line with our expectations amidst consolidation of our Indian operations. Building upon the same, the second quarter has delivered a healthy outcome. Not withstanding the expected losses at the newer centres, the robust uptick in the profitability has been achieved on the back of continual industry- leading margins across our matured centres being ably complemented by the other centres including our international facility at Cayman Islands.

During the quarter gone by, we have also announced plans to establish strategic foray in Bangladesh through our preferred heart centre engagement without any capital outlay. We are excited with this opportunity to leverage upon the synergies with our strong Eastern region operations. Overall, we do remain confident about our ability to focus on delivering quality value-based healthcare services across all the sections of the society.”

About Narayana Hrudayalaya Limited:

Founded in 2000 by Dr. Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Limited is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The Company has a network of 23 hospitals and 7 heart centres across India and single hospital overseas at Cayman Islands.

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