When the world was reeling under the heat of global slowdown, one sector which remained largely untouched from the slowdown and registered healthy growth during the first quarter of the current fiscal is healthcare industry, Assocham President Sajjan Jindal said.
India has a comparative cost advantage via which it provides better and cheap healthcare services than most of the other countries, the industry body said. The study is based on financial performance of 10 healthcare groups including Apollo Hospital, Piramal Healthcare, Cadila and Glaxosmithkline.
The groups registered a growth of 23.94% in total income and 21.37% in total expenditure in Q1 2009-10, against the same period last year, it said. Apollo Hospital registered 23.36% growth in total income and 53.06% growth in net profit in the quarter compared with same period last year, while Piramal healthcare registered 16.48% growth in total income and 45.48% in net profit.