Healthcare Global Enterprises Review - Margins Still Below Industry Levels; ARPOB Improves: Axis Securities

Axis Securities Report

Healthcare Global Enterprises Ltd.'s reported revenue of Rs 470 crore, up 10.6% YoY, which stood Inline our expectations. Growth was primarily driven by average revenue per operating bed improvement to Rs 42,788, up 15.6%/1.7% YoY/QoQ. The number of occupied bed days decreased by 8.1%/9.9% YoY/QoQ and led to a fall in occupancies by 590 basis points /660 basis points to 59.8% YoY/QoQ.

Healthcare Global Enterprises Ebitda margins stood at 16.8%, down 105 bps /63 bps on YoY/QoQ. There were no benefits from operating leverage as existing centers reported healthy Ebitda margins of 23.9% and new centers reported the highest-ever Ebitda margins of 10.4% in Q3 FY24.

However, over the last seven quarters, the company’s consolidated Ebitda margins remained consistent (between 17.0%), although other expenses decreased as expenses in the medical consulting segment increased.

Reported profit after tax after adjustments were Rs 3.5 crore compared to Rs 4.3 crore in Q3 FY24.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.