Narayana Hrudayalaya shares jump 3.5% on strong Q1 performance

Narayana Hrudayalaya clocked in its highest ever quarterly revenue in April-June.

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Shares of Narayana Hrudayalaya gained 3.5 percent in early trade on August 3, buoyed by the hospital major’s strong performance in the April-June quarter, marked by its highest ever quarterly revenue.

The healthcare services company posted a 66.4 percent jump in net profit to Rs 184 crore, up from Rs 110.6 crore clocked a year back.

The rise in bottomline was aided by 19.4 percent growth in topline which came at Rs 1,233.4 crore for the June quarter, the highest-ever on a quarterly basis. The topline in the base quarter was at Rs 1,033.4 crore.

At 10.24am, the stock was trading around a percent higher at Rs 1,022 on the National Stock Exchange. It had hit a high of Rs 1,050 on August 3 last year.

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Healthy payor and speciality mix, and increased footfalls along with strong contribution from the company’s overseas business at Cayman which achieved its highest ever revenue and profitability during the quarter drove revenues for Narayana.

These factors helped the company register higher levels of operating profit margin of 21.9 percent in Q1, sharply up from 18.6 percent seen in the base quarter.

The company also projected capital expenditure plans worth Rs 590.20 crore towards its Cayman business,  Rs 139.1 crore towards replacement/maintenance purposes, Rs 257 crore for capacity addition and Rs 150 crore for inorganic expansion in FY24.

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