Global Health Reports Rs 102 Crore Profit in Q1
Mumbai, Aug 15 2023 : Global Health, which runs Medanta hospitals, has reported a nearly 78 per cent year-on-year jump in net profit to Rs 102 crore for the June quarter boosted by higher margins and revenue realisation.
Its income rose 26.8 per cent to Rs 794.5 crore in the first quarter of the current fiscal, while operating margins went up to 25.1 per cent from 22.6 per cent in the year-ago period, the multi-speciality tertiary care hospital chain, which operates in the north and eastern regions, according to a statement.
For the Gurugram-based company, the average occupied bed days increased by 16.2 per cent, representing an occupancy of 58.1 per cent in the first quarter on increased bed capacity.
In-patient volume rose 19.4 per cent and out-patient volume went up by 17.5 per cent.Revenue share from the developing hospitals in Lucknow and Patna increased from 23.4 per cent to 28.9 per cent, amounting to Rs 229.7 crore.
Revenue from international patients increased 45 per cent to Rs 47.7 crore, driven by increased volume and realisation, the company said.
The in-house out-patient pharmacy business registered 43 per cent growth to Rs 26.6 crore in the June quarter. Pankaj Sahni, the group chief executive officer and director, said the company has just announced partnership with leading developer DLF to build a new 400-bed multi-super specialty hospital in south Delhi, which on commissioning will be able to link its Gurgaon, Delhi, and Noida facilities.
The company runs a network of five hospitals in Gurugram, Indore, Ranchi, Lucknow, and Patna and has 2,725 beds.