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HealthCare Global Enterprises Ltd. reports Q1 FY19 results

Posted On: 2018-08-10 12:09:22

HealthCare Global Enterprises Limited ("HCG") today announced its financial results for the quarter ("Q1") ended June 30 for fiscal year ("FY19").

Highlights for quarter ended June 30th, 2018

- Consolidated Income from Operations ("Revenue") was INR 2,266 mn as compared to INR 1,911 mn in the corresponding quarter of the previous year, reflecting a year-on-year increase of 18.6%.

- Operating EBITDA for existing centers was INR 337 mn as compared to INR 294 mn in the corresponding quarter of the previous year, reflecting an Operating EBITDA margin of 18.5% as compared to margin of 17.8% in the previous year.

- Loss from new centers was INR 32 mn as compared to profit of INR 1 mn in the corresponding quarter of the previous year.

- Consolidated Profit Before Other Income, Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes ("Operating EBITDA") was INR 306 mn as compared to INR 295 mn in the corresponding quarter of the previous year, reflecting a year-on-year increase of 3.6%.

- Consolidated Profit after Taxes and Minority Interest ("PAT") was a loss of INR 34 mn as compared to a profit of INR 47 mn in the corresponding quarter of the previous year.

Commenting on the results, Dr. B.S. Ajaikumar, Chairman and CEO, HealthCare Global Enterprises Ltd. said, "We are pleased to report Q1 FY19 results with robust growth across our business. We continue to create scale in oncology on pan-India basis. In addition to the leadership in Karnataka and Gujarat, we are seeing strong growth in large markets like Maharashtra, Andhra Pradesh, Tamil Nadu across metros and Tier 2/3 towns. Nashik and Mumbai, in particular, are showing good growth. Our existing centers continue to show margin improvement while new centers scale-up as per plan, a testament to our focus on execution. We are also seeing excellent opportunities to leverage our core technology expertise in oncology to offer services in various international markets. We are pleased to welcome Srinivas Raghavan who has joined us as CFO and brings wealth of experience and expertise to HCG. We are pleased to welcome Sudhir Bahl as CEO of Milann, with significant experience in IVF domain, towards implementation of new strategic initiatives and the potential for consolidation in fertility and build national presence. Overall, we are excited about continuing our leadership in niche specialities with focus on efficient execution, while investing in strategic initiatives towards continued future value creation for all stakeholders."

Shares of HealthCare Global Enterprises Ltd was last trading in BSE at Rs.280.25 as compared to the previous close of Rs. 272.45. The total number of shares traded during the day was 952 in over 71 trades.

The stock hit an intraday high of Rs. 280.25 and intraday low of 272.55. The net turnover during the day was Rs. 262895.

Source: Equity Bulls

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