Narayana Hrudayalaya spurts after robust Q4 performance

Narayana Hrudayalaya rose 4.03% to Rs 457.15 after the company's consolidated net profit soared 467.5% to Rs 68.05 crore on 12.76% increase in revenue from operations to Rs 837.76 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax surged 447.08% to Rs 85.29 crore in Q4 FY21 as against Rs 15.59 crore in Q4 FY20.

EBITDA grew 45.9% to Rs 149.90 crore, reflecting a margin of 17.9% as against Rs 102.80 crore in Q4 FY20. This is as per the new accounting treatment for leases per IND AS 116 effective from 1 April 2019 which resulted in Rs 13.30 crore increase in EBITDA and a decrease of Rs 1.1 crore in PAT for Q4 FY21 on pre-IND AS 116 basis.

As on 31 March 2021, total debt less cash and bank balance stood at Rs 485.70 crore (with debt worth $39.10 million is foreign currency denominated).

Commenting on the quarterly performance, Dr Emmanuel Rupert, the managing director (MD) and group chief executive officer (CEO) of Narayana Hrudayalaya, said: "We are pleased to deliver record profitability in the quarter gone by building upon the gradual recovery over several months after an almost washout in Q1 of the last fiscal. With the flagship facilities finally gaining traction in Q4, we have been able to achieve this on the back of all-round growth registered by hospitals across the network in India as well as our overseas operations at Cayman Islands. It is heartening to highlight that despite the severe challenges in the year gone by, we have been able to further fortify our balance sheet by meaningfully paring down our borrowings while maintaining a strong liquidity profile."

"In the backdrop of the current unprecedented surge in COVID-19 cases across the country leading to localized lockdowns coupled with restrictions on international travel, we remain cautious about a near term recovery in the business. However, with the agility and the resilience demonstrated by our team in the year gone by, we do remain confident about our business prospects over the long term. With the current humanitarian crisis continuing to severely impact lives and livelihood of people galore, we stand in solidarity with all and pledge to support our communities in the face of this unfolding tragedy."

Narayana Hrudayalaya operates a chain of multi specialty, tertiary and primary healthcare facilities.

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