HealthCare Global Enterprises Q1 revenue increases 67% yoy to Rs323.1cr; Stock down ~3%

The company reduces loss by 76% to Rs9.6cr in Q1FY22. EBITDA grows 148% yoy.

Aug 13, 2021 11:08 IST India Infoline News Service

HealthCare Global Enterprises Limited (HCG), the leader in India in speciality healthcare services focused on oncology and fertility on Thursday announced its financial results for the quarter (Q1) ended June 30, 2021. Consolidated Income from Operations (Revenue) was Rs323.1cr as compared to Rs193.5cr in the corresponding quarter of the previous year, reflecting year-on-year growth of 67% yoy.

Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (EBITDA) was Rs54.7cr, as compared to Rs22.1cr in the corresponding quarter of the previous year, a growth of 148% year-on-year and 25% quarter-on-quarter. Consolidated Profit Before Other Income, Depreciation, and Amortization, Finance Costs, Exceptional Items and Taxes (Operating EBITDA), was Rs51.2cr, as compared to Rs19.4cr in the corresponding quarter of the previous year, a growth of 165% year-on-year and 30% quarter-on-quarter.

Operating EBITDA for Existing centers was Rs53.1cr, a growth of 109% year-on-year and 21% quarter-on-quarter, reflecting an Operating EBITDA margin of 21%. Operating EBITDA loss from New center was Rs1.9cr, as compared to loss of Rs6.1cr in the corresponding quarter of the previous year and Rs4.6cr in the previous quarter, a reduction of 68% year-on-year and 58% quarter-on-quarter.

Consolidated Profit after Taxes and Minority Interest (PA”) was a loss of Rs9.6cr, as compared to loss of Rs39.8cr in the corresponding quarter of the previous year, a reduction of 76% year-on-year.

At around 11.19 am, Healthcare Global Enterprises Ltd was trading at Rs244.25 per piece down by Rs7.35 or 2.92% from its previous closing of Rs251.60 per piece on the BSE.

“We are pleased to report Q1FY22 results having emerged with strong performance on all counts while weathering the 2nd wave of the pandemic. The quarter started with rising cases, travel restrictions and lockdowns, which threatened to disrupt operations substantially, but we are proud to say that we were not only able to maintain continuity of treatment for cancer patients through usage of technology systems, but also ensured the highest quality of care,” B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd. said.

HCG has institutionalised tumour boards, research and academics across its centers and continues to bring globally comparable outcomes to every patient, along with creating last mile access and better quality of life. With growing oncology disease burden, the inherent strengths and future outlook of the HCG model is best suited to provide superior outcomes for patients while sustainably achieving the desired objectives of all stakeholders, over the coming years,” he added.

Raj Gore, CEO HealthCare Global Enterprises Ltd., added, “We are satisfied with the performance in Q1FY22, which was also during one of the most testing times we may have seen in our lives. The fact that we have not only emerged successfully, but also created new performance benchmarks as an organization, is a testament to the clinical expertise and overall value proposition that we offer. HCG’s large patient catchment of over 640mn population in states of presence and market position across these regions is a great platform helping us in redefining quality of care and outcomes at scale, thus driving clinical and geographic leadership.

“We continue to focus on disciplined capital allocation as we implement strategic initiatives across business development and digital health, while carrying strong momentum from Q1 into the current quarter. We are excited about the next few years as being truly transformative for HCG, to continue our dominant leadership in oncology, while delivering strong return on capital and meeting our responsibilities towards all stakeholders.”

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