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Axis Securities Report
Global Health Ltd. reported revenue of Rs 957 crore, exceeding our expectations, driven by a flat average revenue per occupied bed and a slight increase in occupancies. ARPOB increased to Rs 62,140, up 1.9% YoY, while occupancies improved by 623 bps YoY.
The higher occupancy rates were primarily due to an 8% YoY growth in IPD volumes. The company's topline grew by 13.3% YoY, with realisation rising by 1.9%. Ebitda margins were 24.5%, down 140 bps YoY but showed a sequential improvement of 231 bps. Reported PAT stood at Rs 131 crore, marking a 4.4% YoY increase due to improved operating leverage.
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