GPT Healthcare gains on inking MoU for new hospital project at Jamshedpur

GPT Healthcare rose 1.05% to Rs 188.35 after the company informed that it has entered into memorandum of understanding (MOU) for construction and finishing of a state-of-art high class hospital building at Jamshedpur, Jharkhand.

The facility, which will be fully equipped with modern amenities and services, is intended to be leased to GPT Healthcare on a long-term basis.

The agreement involves multiple parties, including Naveen Singh, Ankur Singh, Shruti Singh, Vinayak Singh, Akshat Singh, Avinash Gaurav, and Kavita Singh.

The company has clarified that the agreement is with a third party, assuring there is no conflict of interest and no nominees from the third party are on the company's board of directors.

GPT Healthcare, the healthcare arm of the GPT Group, currently owns and operates over 561 beds spread across four state-of-the-art multi-specialty hospitals in the eastern part of the country under the brand name ILS Hospitals. Founded in 2000 in Salt Lake, Kolkata, ILS Hospitals has since expanded its footprint and capabilities.

The companys standalone net profit increased 9.8% to Rs 14.82 crore in Q2 FY25 as against Rs 13.50 crore posted in Q2 FY24. However, revenue from operations shed 2.1% YoY to Rs 105.66 in the quarter ended 30 September 2024.

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