Q1FY17 Consolidated operating income at Rs 4,520 mn (y-o-y of 19%) with EBITDA of Rs 550 mn (y-o-y of 50%)
Mumbai, India, August 1, 2016 – Narayana Hrudayalaya Limited, a leading healthcare service provider in India, today announced its financial results for the first quarter (Q1FY17) ended June 30th, 2016.
Financial Highlights for the Quarter (Q1FY17) - Prepared in accordance with Ind AS (‘Indian Accounting Standards’)
· Consolidated total operating income was Rs 4,520 mn for Q1FY17 as compared to Rs 3,787 mn in the corresponding period of the previous year reflecting an increase of 19%
· Consolidated EBITDA stood at Rs 550 mn as compared to Rs 367 mn during the corresponding period of previous year reflecting an increase of 50%
· Consolidated EBITDA Margin was at 12.2% for Q1FY17 as against 9.7% in Q1FY16, improved by 247 bps
· PAT after minority interest and share in associate stood at Rs 167 mn for Q1FY17 as compared to a loss of Rs 5 mn in the corresponding period of the previous year
As per previously applicable Generally Accepted Accounting Principles ('Previous GAAP'), consolidated EBITDA for the quarter was Rs 555 mn (y-o-y of 39%) and consolidated PAT after minority interest and share in associate was Rs 171 mn (y-o-y of 989%).
As on June 30th, 2016, the consolidated net debt was Rs 1,742 mn representing a net debt to equity ratio of 0.20.
Other Highlights during the Quarter
· Commissioned a 230 bedded multispecialty hospital at Kakriyal, Jammu in April 2016 in partnership with Shri Mata Vaishno Devi Shrine Board
· Achieved the milestone of conducting 25 heart transplants till date across the network
· Installed the da Vinci robotic surgical system at our Health City at Bengaluru
· Paediatric surgery & liver transplant program at Health City, Bengaluru completed 10 years accomplishing 60 successful liver transplants on children till date
· NH awarded with “Firm of the Year in Healthcare” at the CNBC-TV18 India Risk Management Awards along with “Frost & Sullivan India Price/Performance Value Leadership” award for the second consecutive year
Management Comment
Commenting on the performance, Dr. Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said “Our quarter performance in Q1FY17 has been in line with the stated objectives. The key highlight of the quarter has been the commissioning of our 230 bed superspeciality hospital at Kakriyal, Jammu. I am delighted to inform you that the response has been really encouraging and we are seeing good traction in our operations at this facility. This apart, enhanced operating efficiencies in line with maturity of facilities are playing a very significant part in sustaining the earnings for the forthcoming future. Besides, performance of our hospital at Cayman Islands has picked up well with the unit expanding its service offerings through the programs of plastic surgery, interventional radiology and interventional neurology. Overall, the business looks bright and we are confident of growing upon the strong momentum as we move forward.”
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 with over 5,300 operational beds across all its centres and potential to reach a capacity of over 6,600 beds.