Narayana Hrudayalaya, a leading healthcare service provider in India, has registered strong growth in net profit during the fourth quarter ended March 2017 and its net profit went up sharply to Rs.22.35 crore from Rs.5.01 crore in the corresponding period of last year. Its revenue from operations increased by 13.1 per cent to Rs.483.53 crore from Rs.427.59 crore. EPS improved to Rs.1.10 from Rs.0.25 in the last period.
Commenting on the performance, Dr. Ashutosh Raghuvanshi, vice chairman, managing director and Group chief executive officer, said “We are pleased to demonstrate noteworthy performance in the quarter and the year gone by amidst the regulatory headwinds affecting our business on multiple counts. The steady ramp-up in our newer hospitals buoyed by the sustained performance of mature hospitals continue to drive our revenues, and at the same time, our changing business mix is improving our profitability profile.
Overall, the fiscal year gone past illustrates substantial progress on the strategic goals that we have set for the group. The Indian healthcare landscape presents a unique opportunity to us as we take significant steps to become a true Pan-India healthcare provider. We believe that the government emphasis on “Health for All” is an important milestone and we remain confident that NH has positioned itself to make affordable quality healthcare accessible to all strata of society.”
For the full year ended March 2017, Narayana Hrudayalaya's revenue increased by 16.4 per cent to Rs.1,878 crore from Rs.1,614 crore in the previous year. Its net profit moved up by 298 per cent to Rs.82.97 crore from Rs.20.82 crore. The growth in profits is basically due to exceptional items pertaining to loss on slump sale of Hyderabad Unit and additional provision for bonus. Further, loss on sale of its investment in a wholly owned subsidiary amounted to Rs.7.93 crore as against Rs.21.75 crore in the previous year. The company has successfully reduced its interest burden to Rs.21.80 crore from Rs.29.44 crore.
The company has a network of 24 hospitals and 7 heart centres across India and a single hospital overseas at Cayman Islands with over 5,900 operational beds across all its centres and potential to reach a capacity of over 7,100 beds.
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