Medanta net profit surges over five-fold to Rs 101 cr in March quarter

Healthcare provider Global Health (Medanta) on Monday said its net profit surged over five fold to Rs 101 crore in the fourth quarter ended on March 31, 2023, aided by increase in bed capacity and higher in-patient footfalls.

The company had reported a net profit of Rs 17.5 crore in the January-March quarter of 2021-22 fiscal.

Revenue in the reporting quarter rose 37 per cent year-on-year to Rs 732 crore, the company said in a statement.

For the financial year ended on March 31, 2023, Medanta posted a net profit of Rs 326 crore as against Rs 196 crore in FY22.

Revenue rose to Rs 2,759 crore in the last fiscal as against Rs 2,206 crore in 2021-22 fiscal.

"For the year and quarter ending March 31, 2023 we have registered significant growth and strong financial performance across all revenue and profitability metrics," Global Health Group CEO and Director Pankaj Sahni noted.

The healthcare provider continues its 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, he added.

Shares of the company ended 1.05 per cent higher at Rs 594.10 apiece on the BSE.