Global Health Limited that operates Medanta hospital posted fiscal fourth quarter profit at Rs 101.07 crore, up 475.9 per cent as against Rs 17.55 crore in the fourth quarter of FY22. It posted revenue from operations at Rs 703.42 crore, up 35 per cent in comparison to Rs 521.08 crore in the corresponding quarter of the previous year. It clocked the highest ever quarterly total income at Rs 731.83 crore while total expenses for the quarter was at Rs 598.75 crore. The company EBITDA stood at Rs 191.50 crore. “The growth was driven by a combination of factors such as higher inpatient volumes, increase in bed occupied days, and change in specialty mix,” the company said.
“For the year and quarter ending March 31, 2023 we have registered significant growth and strong financial performance across all revenue and profitability metrics,” said Pankaj Sahni, Group CEO and Director, Global Health.
Medanta’s Q4FY23 performance
During the fourth quarter of FY23, Medanta’s overall occupied bed days increased by 25.6 per cent on-year, representing an occupancy of 58 per cent on increased bed capacity. “ARPOB grew by 7.5 per cent to Rs. 60,880 and in-patient count increased by 32.4 per cent on-year while out-patient count increased by 25.6 per cent YoY,” it said. It added 126 new beds at Medanta Lucknow increasing total beds from 475 in Q3 FY23 to 601 beds at the end of Q4 FY23.
Further, the developing hospitals revenue share increased to 28 per cent in Q4FY23 as against 21 per cent in the fourth quarter of FY22, amounting to Rs 202.50 crore. Also during the quarter, international patients revenue increased by 32.5 per cent to Rs 36.80 crore, driven by increased volume in international patient admissions. In house OPD pharmacy business continues to register strong growth with revenue up by 61 per cent to Rs 22.50 crore.
Medanta’s FY23 performance
The company posted revenue from operations for the fiscal year at Rs 2694.25 crore. Medanta Patna which commenced IPD in January 2022 delivered positive EBITDA in its first year of operations. Further during the financial year, a lung transplant programme was started and mother and child specialty was introduced at both Medanta Gurugram and Medanta Lucknow and bone marrow transplant and endocrine surgery was started in Medanta Lucknow. The year saw addition of 293 new beds – 191 at Medanta Lucknow, 102 at Medanta Patna, resulting in ~12.2 per cent bed capacity enhancement.
Also, it started construction of the Noida facility in September 2022 which is expected to commence operations in FY25 with 300 beds. “We continue our planned growth in beds and infrastructure, and remain an attractive destination for leading clinical talent which is highlighted by the addition of over 150 senior clinicians in the last fiscal year across the Group,” said Pankaj Sahni.
Medanta is a network of 5 multispeciality hospitals which has 4.7 million sqft of built-up area with additional land for expansion. It has over 2,697 beds expanding to 3,500+ by FY2025E and 76 operation theaters and 630+ ICU beds.