Narayana Hrudayalaya Limited reports earnings for Q2FY21

Narayana Hrudayalaya Limited, a leading healthcare service provider in India, today announced its financial results for the second quarter (Q2 FY21) ended September 30th, 2020.

Financial Highlights for the Quarter (Q2 FY21) - Prepared in accordance with Ind AS ('Indian Accounting Standards')

- Consolidated operating income was Rs 6,007 mn for Q2 FY21 as compared to Rs 3,935 mn in Q1 FY 21 and Rs 8,223 mn in Q2 FY20

- Consolidated EBITDA* stood at Rs 372 mn in Q2 FY 21 as against loss of Rs 863 mn in Q1 FY 21 and profit of Rs 1,281 mn in Q2 FY20

Financial Highlights for the Six Months (H1 FY21)

- Consolidated total operating income was Rs 9,942 mn for H1 FY21 as compared to Rs 15,997 mn in H1 FY 20

- Consolidated EBITDA* loss of Rs 492 mn as against profit of Rs 2,357 mn in H1 FY20

* This is as per the new accounting treatment for leases per IND AS 116 effective 1st April, 2019 which resulted in INR 129 mn increase in EBITDA and decrease of INR 18 mn in PAT for Q2 FY 21 and INR 247 mn increase in EBITDA and decrease of INR 51 mn in PAT for H1 FY 21 on a like-to-like basis (pre-IND AS 116)

As on September 30 th, 2020, the consolidated net debt was Rs 5,539 mn representing a net debt to equity ratio of 0.55. (Out of which, debt worth US$ 44.5 mn is foreign currency denominated).

Commenting on the performance, Dr. Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said "As expected, localized lockdowns affected patient footfalls leading to a rather gradual recovery for most part of the quarter gone by. However, we are encouraged by the momentum generated in the month of September with monthly consolidated revenues reaching ~90% of pre-covid (Feb, 20) levels. Flagship facilities across Bengaluru and Kolkata continued to remain impacted given their preeminence in the cardiac sciences based elective domain as well as higher reliance on out-of-station domestic and international patients. However, units at Delhi NCR and hinterland regions continue to demonstrate robust traction. The facility at Cayman Islands closed yet another quarter with the highest ever quarterly revenues.

Going forward, notwithstanding a fresh wave of the pandemic as is being witnessed across in certain parts of the world, as we progress towards normalcy with improving sentiments, we are expecting a faster recovery as patients' mobility improves both at domestic and international fronts."

Shares of Narayana Hrudayalaya Ltd was last trading in BSE at Rs.328.3 as compared to the previous close of Rs. 342.15. The total number of shares traded during the day was 19958 in over 846 trades.

The stock hit an intraday high of Rs. 344.9 and intraday low of 318.5. The net turnover during the day was Rs. 6541663.

Source : Equity Bulls

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