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Healthcare Facilities company Rainbow Childrens Medicare announced Q3FY24 results:
Financial Performance:
- Revenue: Rs 3,359.6 million, marking a YoY growth of 9.6% compared to Rs 3,064.0 million in Q3FY23.
- EBITDA: Achieved Rs 1,180.8 million with a 10.6% increase from Rs 1,067.6 million in the same quarter the previous year. EBITDA margin was at 35.1%.
- Profit After Tax (PAT): Grew by 7.4%, reaching Rs 625.7 million from Rs 582.4 million in Q3FY23, with PAT margin reporting a slight dip by 38 bps to 18.6%.
Operational Highlights:
- Capacity and Beds: Expanded to 1,655 operational beds, a 6% increase from 1,555 beds in Q3FY23.
- Occupancy Rate: Experienced a decrease to 50.8%, a 630 bps drop from 57.1% in Q3FY23.
- Inpatient Discharges: Slightly increased to 22,888 from 22,665 YoY.
- Outpatient Consultations: Small growth to 3,17,146 consultations, up from 3,15,485 in the same quarter last year.
- Deliveries: Witnessed an uptick to 4,127 deliveries compared to 4,019 previously.
- Average Revenue Per Occupied Bed (ARPOB): Stood at Rs 55,768.
- Average Length of Stay (ALOS): Reduced slightly to 2.63 days from 2.77 days YoY.
New Developments and Expansion:
- Commissioned the 8th hospital in Hyderabad with 60 beds.
- Ongoing projects include the finalization of hospitals in Anna Nagar, Chennai, and Sarjapur Road, Bangalore, expected to commence in Q4FY24.
- Continued development in Hennur, Bangalore, and Rajahmundry, with expected completion in the next 12-15 months.
- Acquired two land parcels in Gurgaon for future expansion.
Commenting on the performance for Q3FY24, Dr. Ramesh Kancharla, Chairman & Managing Director, Rainbow Children’s Medicare, said, “ I'm delighted to announce that our company has showcased a resilient operating and financial performance this quarter. The revenue for Q3FY24 was Rs 3,359.6 million, which is a growth of 9.6% compared to Rs 3,064.0 million in Q3FY23. The EBIDTA for Q3FY24 was Rs 1,180.9 million, which is a growth of 10.6% compared to Rs 1,067.6 million in Q3FY23 and the PAT for Q3FY24 was Rs 625.7 million, which is a growth of 7.4% compared to Rs 582.4 million in Q3FY23.
We have managed to fortify our operations and deliver stable performance despite the continued seasonal headwinds. Our operating performance reflects our commitment to delivering high-quality healthcare to our patients.
We remain dedicated to the timely execution and initiation of our projects and add 280 beds during the current financial year.
The company continues its unwavering dedication to its mission: to provide outstanding multi-disciplinary pediatric and perinatal care. We are constantly refining our services to serve our patients."
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