HealthCare Global Enterprises Ltd. Reports Q1 FY25 Results - World News Network

BusinessWire India
Bengaluru (Karnataka) [India], August 12: Revenue for Q1 FY25 of INR 5,256 million, a growth of 14% (y-o-y); EBITDA for Q1 FY25 of INR 929 million, a growth of 21% (y-o-y); and PAT for Q1 FY25 of INR 121 million, a growth of 59% (y-o-y).
HealthCare Global Enterprises Limited (“HCG”), the leader in India in speciality healthcare services focused on oncology and fertility announced its unaudited financial results for the quarter (“Q1”) ended June 30th, 2024.
Highlights for quarter ended June 30th, 2024
* Consolidated Income from Operations (“Revenue”) was INR 5,256 mn as compared to INR 4,607 mn in the corresponding quarter of the previous year, reflecting a year-on-year growth of 14%
* Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Adjusted EBITDA”) was INR 929 mn, as compared to INR 765 mn in the corresponding quarter of the previous year, a growth of 21% year-on-year
* Consolidated Profit Before Other Income, Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Reported EBITDA”), was INR 909 mn, as compared to INR 743 mn in the corresponding quarter of the previous year, a growth of 22% year-on-year
* EBITDA for Established centers was INR 1,024 mn, a growth of 18% year-on-year
* EBITDA from Emerging centers turned positive to INR 42 mn, as compared to INR -12 mn in the corresponding quarter of the previous year
* Consolidated Profit after Taxes and Minority Interest (“PAT”) of INR 121 mn, as compared to INR 76 mn in the corresponding quarter of the previous year, growing by 59% year-on-year

1) Q1 FY24 includes Revenue & EBITDA from discontinued MSR operations, adjusted Revenue growth stands at 16.7% & EBITDA growth stands at 26%
2) Adjusted EBITDA excluding ESOPs and Onetime Expense
3) PAT after Minority Interest
Business Updates for Q1 FY24
* Overall ARPOB stood at Rs. 44,342 vs. Rs. 39,686 in Q1FY24, a growth of 12%
* Overall AOR stood at 65.6% vs. 66.9% in Q1FY24
* RoCE (Q1 FY25 Annualized)
– RoCE for Established centers stood at 14.1% vs. 15.5% in Q1FY24. RoCE pre-corporate allocations stands at 17.4%
– RoCE for Emerging centers stood at -9.3% vs. -15.2% in Q1FY24. RoCE pre-corporate allocations stands at -6.1%
* Several regions delivered high double-digit revenue growth on yearly basis
– Kolkata grew by 73% for the quarter on a y-o-y basis
– Nagpur, South Mumbai, Nashik & Bhavnagar grew by 26%, 22%, 22% and 21% y-o-y respectively
Commenting on the results, Dr B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd. said, “As planned, we continue to deliver strong financials as well as operational excellence across the network. Our centers are performing as expected or even better. During the quarter, we expanded our footprint and portfolio by virtue of the acquisition of Vizag-based Mahatma Gandhi Cancer Hospital and Research Institute. Going forward, Vizag will undoubtedly play a key role in shaping our growth strides. Having already established a strong brand in the region, we will in good time consolidate our presence to become the single largest player in the region. Given our ethos of pursuing excellence as a continuum, our doctors, specialists, and clinicians remain unflinchingly focused on disruptive innovation by virtue of academics and research, which translates into novel therapies and breakthroughs enhancing the quality of life and outcomes for our patients. Thanks to our unique approach of providing our patients with the right treatment at the right time, our outcomes are comparable to those of leading cancer care institutions worldwide. As we move forward, our commitment to providing innovation-focused, technology-enabled, value-based cancer care will help us expand our reach to serve more communities across new geographies. I am immensely proud of Team HCG; it is the collective effort of every HCGian that has helped us serve the larger cause of our ultimate stakeholders, our patients, with conviction and credence and, in the process, has seen us carve a niche as a destination for cancer care in the country.”
Raj Gore, CEO, HealthCare Global Enterprises Ltd., added, “We are pleased to announce that our revenue for the quarter has increased by 16.7% year-over-year excluding revenues from discontinued MSR operations. Our EBITDA grew by 22.3% year-over-year, demonstrating significant operational leverage in our business. The EBITDA margin for Q1 was 17.3%, a 120-bps increase year-over-year, continuing the upward trend we have observed in recent quarters and remain optimistic about further improvements. Our consistent revenue growth is driven by volume increases across modalities and enhanced operational performance, supported by the strong results of our established centers and the progress in our emerging centers. We have been diligently working to turn around operations at our emerging centers, and we are excited to report that our Kolkata center has shown promising growth and is now contributing to our overall EBITDA. We are confident that the emerging centers will see revenue growth and margin expansion over the next 12 months, significantly contributing to overall margins.
As we reflect on this quarter, we are inspired by the dedication and hard work of our entire team. Our focus on delivering exceptional cancer care and expanding our network continues to drive our success. With the momentum from our recent acquisition and the ongoing support of our partners, we are well positioned for sustained growth and innovation. We look forward to building on this strong foundation as we continue our mission to improve patient outcomes and set new standards in cancer treatment.”
(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News