Revenue for Q2 FY21 of Rs 2,479 million, a decline of 11 per cent (y-o-y) and for H1 FY21of Rs 4,414 million, a decline of 19 per cent (y-o-y)
HCG has announced its financial results for the quarter (Q2) and six months (H1) ended September 30 for fiscal year (FY21).
The consolidated income from operations (Revenue) was Rs 2,479 million as compared to Rs 2,785 million in the corresponding quarter of the previous year, reflecting a year-on-year decline of 11 per cent and a quarter-on-quarter growth of 28 per cent. The consolidated profit before depreciation and amortization, finance costs, exceptional items and taxes (EBITDA) was Rs 340 million, as compared to Rs 471 million in the corresponding quarter of the previous year, a decline of 28 per cent year-on-year and a growth of 54 per cent quarter-on-quarter.
The consolidated profit before other income, depreciation and amortization, finance costs, exceptional items and taxes (Operating EBITDA), was Rs 300 million, as compared to Rs 456 million in the corresponding quarter of the previous year, a decline of 34 per cent year-on-year and a growth of 55 per cent quarter-on-quarter.
The operating EBITDA for existing centres was Rs 329 million, a growth of 29 per cent quarter-on-quarter, reflecting an Operating EBITDA margin of 17 per cent. Loss from new centres was Rs 29 millionn, as compared to loss of Rs 48 million in the corresponding quarter of the previous year, a reduction of 40 per cent year-on-year and 52 per cent quarter-on-quarter.
The consolidated profit after taxes and minority interest (PAT)(4) was a loss of Rs 223 million, as compared to loss of Rs 223 million in the corresponding quarter of the previous year.
Dr BS Ajaikumar, Chairman and CEO, HealthCare Global Enterprises said, “We report Q2 FY21 results with continued resilience amidst an environment struck with economic and social uncertainty brought about by the COVID pandemic. Strong performance of oncology centres in Tier 2/3 towns, improvements across the board at our new centres across Mumbai, with Borivali almost at the verge of operational break-even at unit level, and bounce back of Kolkata centre, demonstrates that we have not only adapted well to the challenges but also emerged stronger, particularly in our domain. The depth of our operating systems and internal efficiencies have allowed us to uphold our mission of maintaining continuity and quality of care for oncology patients across the country, while minimising revenue and cost disruptions to the extent possible. This is a testament of sustainability of our business model fundamentals, which includes focused delivery of comprehensive cancer care, creating last-mile access on a pan-India basis, while being at the forefront of clinical, technological and digital innovations in the industry. With substantial deleveraging of our balance sheet, reduction in losses across new centres, on y-o-y and q-o-q basis, and focus on free cash flow generation, we are excited to move closer to our inflexion point that augurs profitability and return accretive phase for the company. HCG will continue to strengthen its dominant leadership in oncology, fertility and precision diagnostics, with a dedicated team and Pan-India presence, and is committed towards value creation and social impact for all our stakeholders.”
