Q2 preview: Non-Covid revenues to hint at normalisation for healthcare cos

Companies may, however, report sequential drop in numbers as Q1FY22 coincided with outbreak of second Covid wave, say brokerages

The healthcare sector – pharmaceuticals, hospitals and diagnostics – is likely to show signs of normalisation with non-Covid-19 revenues growing in the September quarter (Q2) of 2021-22, say brokerages. 

Analysts predict a 6 per cent-12 per cent year-on-year (YoY) revenue growth for top pharmaceutical companies and a profit after tax (PAT) growth up to 45 per cent wherein some may also see profits declining. Hospitals are likely to report strong revenues as non-Covid occupancy ramps up while the diagnostics space also stands to benefit from non-Covid testing and a modest Covid-19 boost.

On a sequential basis, however, analysts expect hospital