Krishna Institute acquires additional stake in Arunodaya Hospitals

Krishna Institute of Medical Sciences (KIMS Hospitals) said that it has made a further strategic investment in its subsidiary by acquiring an additional equity stake of 7.79% in Arunodaya Hospitals on 28 November 2022.

Consequently, KIMS Hospitals now holds 65.62% of the total paid-up equity share capital of Arunodaya Hospitals.

Arunodaya Hospitals is a multispecialty hospital with a capacity of 200 patient beds. It is strategically located to serve patients in Srikakulam (AP) as well as from the neighboring state of Odisha. The company recorded revenue of Rs 30.62 crore in the financial year ended 30 March 2022.

Founded by Dr. B. Bhaskara Rao and headquartered in Hyderabad, KIMS Hospitals is one of the largest corporate healthcare groups in Telangana and Andhra Pradesh, providing multi-disciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost. It has a network of 13 hospitals and 4000 beds spread across Telangana, Andhra Pradesh and Maharashtra.

The company's consolidated net profit rose 18.8% to Rs 97.11 crore on a 37% rise in sales to Rs 564.07 crore in Q2 FY23 over Q2 FY22.

The scrip declined 0.70% to currently trade at Rs 1,493.20 on the BSE.

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