Business

Narayana Hrudayalaya reports 19 pc jump in Q1 operating income at Rs 777 crore

ANI | August 10, 2019 11:12 AM
The company has a network of 23 hospitals and 7 heart centres across India

Bengaluru (Karnataka) [India], Aug 10 (ANI): Leading healthcare service provider Narayana Hrudayalaya has said its consolidated total operating income stood at Rs 777.4 crore for Q1 (April to June) of current financial year 2019-20 as compared to Rs 652.3 crore in the corresponding period of previous year, marking an increase of 19.2 per cent.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 107.6 crore, reflecting a margin of 13.8 per cent as against Rs 50.4 crore in Q1 FY19, translating into a year-on-year growth of 113.5 per cent.

This is as per new accounting treatment for leases per IND AS 116 effective April 1 which resulted in Rs 8.23 crore increase in EBITDA and decrease of Rs 1.99 crore in profit after tax for Q1 FY 20 on a like-to-like basis (pre-IND AS 116).

As on June 30 this year, the consolidated net debt was Rs 669.1 crore representing a net debt to equity ratio of 0.62. Out this, debt worth 52.8 million (about Rs 374 crore) is foreign currency denominated.

"India operations affected by transient stutters in the form of regulatory challenges along with commissioning of new hospitals is shaping up well," said Emmanuel Rupert, Managing Director and Group CEO of Narayana Hrudayalaya Ltd.

"Our hospital at the Cayman Islands continues to deliver healthy growth, achieving around 40 per cent year-on-year in the first quarter of fiscal year 2020 and helping it to more than triple its EBITDA over the corresponding period of last year," he said in a statement.

On the clinical front, the company's focus on providing advanced quaternary care is helping it set new benchmarks in clinical outcomes.

"Centres such as Health City in Bengaluru and our hospitals at Delhi NCR and Mumbai have emerged as preferred medical destinations across niche specialities among international patients," said Rupert.

"With patient safety and well-being at the core, we remain committed to drive excellence across the clinical spectrum and continue to make quality healthcare accessible to all."

Founded in 2000 by Dr Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Ltd operates a chain of multi-speciality, tertiary and primary healthcare facilities. The company has a network of 23 hospitals and 7 heart centres across India and single hospital overseas at the Cayman Islands with over 6,200 operational beds across all its centres and potential to reach a capacity of over 7,100 beds. (ANI)

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