Narayana Hrudayalaya drops after poor Q1 earnings

Narayana Hrudayalaya fell 3.28% to Rs 299.50 at 13:15 IST on BSE after consolidated net profit dropped 36.66% to Rs 10.92 crore on 15.66% rise in total income to Rs 526.34 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 123.95 points, or 0.38%, to 32,352.79. The S&P BSE Mid-Cap index was up 55.12 points, or 0.36%, to 15,467.08.

On BSE, so far 5,969 shares were traded in the counter as against average daily volume of 55,225 shares in the past one quarter. The stock hit a high of Rs 305 and a low of Rs 297.25 so far during the day. The stock had hit a record high of Rs 375 on 10 November 2016. The stock had hit a 52-week low of Rs 286.80 on 6 July 2017.

The stock had underperformed the market over the past one month till 2 August 2017, falling 2.01% compared with 4.06% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 1.78% as against Sensex's 7.80% rise. The scrip had also underperformed the market in past one year, declining 3.94% as against Sensex's 17.26% rise.

The mid-cap company has equity capital of Rs 204.36 crore. Face value per share is Rs 10.

Consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) stood at Rs 55.60 crore in Q1 June 2017, reflecting a margin of 10.7% as against Rs 55.90 crore in Q1 June 2016.

Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya said that while there has been an impact due to curb on cardiac stent pricing along with commissioning of new facility in Mumbai, the company remains on-track to deliver affordable quality healthcare to all with distinguished business model.

Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The company has a network of 23 hospitals and 7 heart centres across India and a single hospital overseas at Cayman Islands with close to 5,800 operational beds across all its centres and potential to reach a capacity of 7,000 beds.

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