You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Shalby tumbles after Q3 PAT drops 31% due to higher taxes

Capital Market 

Shalby tumbled 5.70% to Rs 123.35 after the company's consolidated net profit declined by 31.25% to Rs 16.82 crore on a 13.99% rise in revenue from operations to Rs 131.79 crore in Q3 FY21 over Q3 FY20.

Profit before tax in Q3 December 2020 stood at Rs 22.85 crore, up by 4.49% from Rs 21.87 crore in Q3 December 2019. Current tax expenses during the quarter surged 145.16% year-on-year (YoY) to Rs 4.09 crore.

On a standalone basis, Shalby reported 97.2% jump in net profit to Rs 16.3 crore on a 7.1% rise in revenue from operations to Rs 129.3 crore in Q3 FY21 over Q3 FY20.

EBITDA rose 32.9% to Rs 32.3 crore in Q3 December 2020 from Rs 24.3 crore in Q3 December 2019. EBITDA margin was at 24.5% as on 30 December 2020 as against 19.7% as on 30 December 2019.

Commenting on performance, Shanay Shah, president, said: "During the quarter, we treated over 2,700 COVID-19 patients across our hospital group and total surgeries performed were 1,840, a growth of 13.4% on quarter-on-quarter (q-o-q) basis.

During the quarter, Shalby delivered robust performance that was in line with our expectations. This was driven by increased bed occupancy levels of 45% in Q3 FY21 as compared to 38% in the same quarter last year. The occupancy growth was underpinned by an increase in both the number of COVID-19 patients and elective surgeries.

Our balance sheet and cash flow generation remains strong with net cash of Rs 59.8 crore at the end of December 2020 compared with Rs 39.8 crore at the end of March 2020.

Looking ahead with a COVID-19 vaccine on the horizon, we are cautiously optimistic that a transition toward normalcy will soon begin although it will take time for the vaccine to have a pronounced effect on the pandemic.

Shalby operates a multi-specialty chain of hospitals. Its hospitals are tertiary care hospitals, which offer quaternary healthcare services.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, January 08 2021. 14:35 IST