Global Health Q2 Results Review - Elevating The Opportunity In Underserved Micro Markets: Axis Securities

The shift in the IPD revenue mix from cash to TPA appears to be temporary, and it is anticipated that the mix will return to its previous state soon, says the brokerage.

Medanta hospital building. (Source: Company website).

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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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Axis Securities Global-Health-Ltd Q2FY25-Result-Update.pdf
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Also Read: Bharat Forge Q2 Results Review - Weak Demand In Core Segments Hurts Earnings: Motilal Oswal

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