Narayana Hrudayalaya Ltd's Q2FY19 consolidated net profit declines 17.9% yoy to Rs13.58cr : In-line with Estimates

The company’s consolidated revenue stood at Rs711.28cr, up 27.2% yoy and 9.04% qoq.

Oct 31, 2018 10:10 IST India Infoline Research Team

Narayana Hrudayalaya Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 711.28 27.2
EBITDA 72.99 25.6
EBITDA Margin (%) 10.3 [13]
Net Profit (adjusted) 13.58 [17.9]
***EBITDA margin change is bps
Narayana Hrudayalaya’s revenue in Q2FY19 grew by 27.2% yoy to Rs711.3cr. EBITDA in Q2FY19 grew by 25.6% yoy to Rs73cr vs. Rs58.1cr in Q2FY18. EBITDA margins in Q2FY19 stood at 10.3% vs. 7.3% in Q1FY19 and 10.4% in Q2FY18. PAT declined by 17.9% yoy to Rs13.6cr in Q2FY19. Company had reported a loss of Rs4.1cr in Q1FY19.

Other highlights 
  • The consolidated net debt by end of Q2FY19 was Rs77.1cr and net debt-to-equity ratio stood at 0.73.
  • Its debt worth $57.6mn is foreign currency denominated.
  • Company now has operated 21 hospitals and 5,243 beds by end of Q2FY19.
  • 72% of its hospitals are matured (+5 years of age), while 7% hospitals have age of 3-5 years.
  • 44% hospitals are in Karnataka region, while 33% are in east, 14% are in west and rest 9% are in north region.
  • AROPB in Q2FY19 stood at Rs88 lakh vs. Rs77 lakh in Q2FY18.
  • ALOS has declined from 4.2 days in Q2FY18 to 3.9 days in Q2FY19.
  • Region wise ARPOB are - Karnataka region (Rs98 lakh), East (Rs78 lakh), West (Rs76) and North (Rs1cr). 
  • Region wise occupancy rates are - Karnataka region (57%), East (68%), West (61%) and North (48%). 

Technical View:

Narayana Hrudayalaya Ltd is currently trading at Rs. 225.85, up by 0.25 points or 0.11% from its previous closing of Rs. 225.60 on the BSE.
The scrip opened at Rs. 228.30 and has touched a high and low of Rs. 228.70 and Rs. 223.70 respectively. So far 8,911 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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