HealthCare Global Enterprises Limited (“HCG”) today announced its financial results for the quarter (“Q3 FY18”) and nine months (“9M FY18”) ended December 31, 2017.
Highlights for quarter ended December 31st, 2017
- Consolidated Income from Operations (“Revenue”) was INR 2,063 mn as compared to INR 1,762 mn in the corresponding quarter of the previous year, reflecting a year-on-year increase of 17%.
- Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“EBITDA”) was INR 319 mn as compared to INR 277 mn in the corresponding quarter of the previous year, reflecting a year-on-year increase of 15.3%.
- Operating EBITDA without loss from new centers was INR 309 mn as compared to INR 274 mn in the corresponding quarter of the previous year.
- ConsolidatedProfitBeforeOtherIncome,DepreciationandAmortization,FinanceCosts,ExceptionalItems and Taxes (“Operating EBITDA”) was INR 261 mn as compared to INR 260 mn in the corresponding quarter of the previous year, reflecting a year-on-year increase of 0.3%.
- Consolidated Profit after Taxes and Minority Interest (“PAT”)(4) was INR 32 million as compared to INR 54 mn in the corresponding quarter of the previous year.
Business Updates for Q3 FY18
Growing strategic focus and scale across Maharashtra.
- Nashik expansion and launch of Nagpur and Borivali led to the region contributing 9% of HCG Centers income in Q3 FY18 as compared to 4% in the corresponding quarter of the previous year; this is to further strengthen with upcoming launch of South Mumbai in Q1-FY19
- Borivali center operationalized with commencement of comprehensive radiation, surgical and medical oncology services, all under one roof, in a large and high-realization market.
Focus on continued leadership in East India region with strong performance at Cuttack and Ranchi; presence in the region to be augmented further with planned launch of Kolkata center in Q1-FY19
Milann announced plan for new center in Whitefield area towards continuing market leadership in Bengaluru, which remains one of the most attractive markets for fertility.
Commenting on the results, Dr. B.S. Ajaikumar, Chairman and CEO, HealthCare Global Enterprises Ltd. said, “We are pleased to report Q3 FY18 results with consistent performance in a changing healthcare landscape. We welcome the announcement from the government which will potentially make high quality healthcare accessible to 500mn people. HCG given our strong presence in Tier 2 and Tier 3 cities across India through our oncology care network is very well positioned in this new landscape. Also, we are very excited about the prospects of the newest addition to the HCG Family – created from the business combination of our Triesta unit with Strand Life Sciences – to create India’s leading speciality diagnostics company. This will redefine precision medicine with end to end expertise spanning bioinformatics, genomics and research. We feel our focused approach in cancer care and fertility treatment, positions us well for the future.”