Healthcare Global Enterprises stock skids 3% after Q4 net loss

Revenue at HCG Cancer center in Ahmedabad grew by 24.5% y-o-y o Nashik center delivered revenue growth of 13.8% on y-o-y basis.

Jun 18, 2021 02:06 IST India Infoline News Service

Shares of Healthcare Global Enterprises slipped over 3% on the BSE after reporting net loss of reported of Rs102.17cr in the quarter ended March 2021. The company recorded a net loss of Rs43.58cr during the previous quarter ended March 2020.

The sales rose 10.22% to Rs297.04cr in the quarter ended March 2021 as against Rs269.50cr during the previous quarter ended March 2020.

The stock is currently trading at Rs194.30 down by Rs7.3 or 3.62% from its previous closing of Rs201.60 on the BSE.

Business Updates for Q4 FY21
  • HCG centers revenue grew 11.7% y-o-y, with good momentum across Existing centers
  • Revenue grew 5.9% y-o-y for Existing centers, in spite of de-growth in international patients
  • Bengaluru - Center of Excellence delivered revenue growth of 21.5% q-o-q and 6.6% y-o-y
  • Revenue at HCG Cancer center in Ahmedabad grew by 24.5% y-o-y o Nashik center delivered revenue growth of 13.8% on y-o-y basis
On account of COVID and related considerations, Board decided to take conservative approach towards investments / projects including Gurgaon, Milann, Africa etc. through partial impairment of book value.

Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd. said, “Amidst the challenging environment, our Q4 and FY21 performance gives us lot of confidence as we enter the new financial year on positive note. This has been a remarkable year for all of us, including HCG, which has not only weathered multiple storms, internal debt issues and macro-environmental challenges, but also emerged as a stronger, focused and sustainable leader in the oncology domain. We are actively contributing to India’s fight against COVID with several initiatives and also conducting vaccination drives across our hospitals as well as 3 rd party on-site programs at mass scale and look forward to normalization in the coming months. With CVC as long-term financial partners, a highly competent and dedicated management team and strength of HCG’s brand and balance sheet, we are dedicated to the vision of delivering advanced and high quality cancer care and outcomes to patients, at scale, on pan-India basis. We also continue to drive several initiatives across the organization in areas of social and environmental responsibilities towards all stakeholders and society at large.”

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