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Healthcare Global Enterprises announced Q3FY24 & 9MFY24 results:

Financial Performance

• Revenue: Q3FY24 revenue reached Rs 4,699 million, marking an increase of 11% YoY. Over 9MFY24, the revenue climbed to Rs 14,175 million, reflecting a growth of 13% YoY.
• Adjusted EBITDA: The company reported an adjusted EBITDA of Rs 826 million for Q3FY24, achieving a 7% rise YoY. For 9MFY24, adjusted EBITDA was Rs 2,455 million, indicating an 8% YoY increase.
• Profit After Tax: The Profit After Tax (PAT) for Q3FY24 was Rs 57 million, a decrease of 24% YoY. While for 9MFY24, the PAT stood at Rs 269 million.

Revenue Breakup

• Mature Centers: Q3FY24 revenue from mature centers was 790 million.
• Emerging Centers: Revenue from emerging centers in Q3FY24 reached 1,015 million.

EBITDA Breakup - Mature vs Emerging Centers

• Mature Centers: Demonstrated a YoY growth of 19.3%, with an increased revenue of Rs 3,323 million in Q3FY24 compared to Rs 3,065 million in Q3FY23.
• Emerging Centers: Shown a YoY growth of 65.7%, with a revenue hike from Rs 122 million in Q3FY23 to Rs 126 million in Q3FY24.

Operational KPIs (Oncology)

• OPD Footfall: Q3FY24 experienced 110,000 footfalls, as compared to 91,000 in Q3FY23.
• Chemo Sessions Administered: The company administered 36,000 chemo sessions in Q3FY24 whereas it was 34,000 in Q3FY23.
• LINAC Capacity Utilizations: Utilization increased to 61% in Q3FY24 from 60% in Q3FY23.
• In-Patient Bed Occupancy: Saw a slight decrease to 52% in Q3FY24 from 57% in the previous year.

Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises said, “India is at the cusp of significant demographic change leading to a doubling of population aged over 60 years by 2050. Cancer incidence is expected to increase by 77% during this period. HCG, with its network of 22 Cancer Centers and expansion plans is poised to play a dominant role in serving the diagnostic and treatment needs of the forecasted demand.

HCG's performance for the quarter serves as evidence of its progress in advancing towards focused cancer care, where research and collaboration are the key drivers for improving patient outcomes. By leveraging these unique value propositions, we are able to provide targeted treatments such as adaptive radiotherapy and immunotherapy to our patients. Moreover, our integration of technology into patient care processes, including computational work and Al platforms, allows us to continuously be on the leading edge of the change, creating a differential in the way cancer has evolved.

At HCG, we have always embraced technology and innovation to be at the forefront of advancement in cancer care. We have consistently adopted cutting-edge solutions to ensure that we provide the highest quality healthcare to our patients. Our ability to deeply connect with patients is built on a foundation of compassion and trust that is unmatched, which is what truly sets HCG apart from others in our field. We remain committed to continue making a meaningful difference in the lives of those we serve in making Cancer a chronic disease."

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