Healthcare facilities company Artemis Medicare Services announced Q1FY24 results: Net revenue from operations increased by 25.3% to Rs 2,095 million from Rs 1,672 million EBITDA increased by 35.4% to Rs 292 million from Rs 215 million with a margin of 13.9% PBT increased by 23.5% to Rs 131 million from Rs 106 million with a margin of 6.3% Net debt of Rs 2,105 million as on June 30, 2023; net debt/shareholder’s Equity of 0.50x Announcing the results, Dr. Devlina Chakravarty, Managing Director of Artemis Medicare Services, commented, “We are delighted to announce the financial results of Q1FY24. This is one of the best-ever quarterly performances and gives a promising start to the new fiscal year, despite it being a seasonally weak quarter. Our efforts for improving revenue realisations, finetuning efficiencies, and optimizing costs are showing results in both revenues and profitability. Occupancy has successfully ramped up in the new tower which was operationalised towards the end of FY22. We look forward to the third tower, which will operationalise by early FY25 as per plan, as it will enhance our performance further. During the quarter we have added a new hospital in Gurgaon under the Artemis Lite brand. The positive response that we have received for this hospital in a short period yet again stands as testimony to the concept of neighbourhood multi-specialty hospitals which we introduced last year. Additionally, we have started the first of the two hospitals in Mauritius under the O&M; agreement. In India, our subsidiary, Artemis Cardiac Care, and the homecare vertical, Solace by Artemis, both continue to make their impact beyond the main hospital footprint. Overall Artemis continues its pursuit of long-term sustainable growth in the Delhi NCR region, through the combination of asset-light developments and acquisitions.” Result PDF
Healthcare facilities company Artemis Medicare Services announced Q4FY23 & FY23 results: Q4FY23: Net revenue from operations increased by 31% to Rs 1,953 million from Rs 1,494 million EBITDA increased by 53% to Rs 280 million from Rs 183 million with a margin of 14.4% PBT increased by 71% to Rs 140 million from Rs 82 million with a margin of 7.2% Net debt of Rs 1,906 million as of 31 st March 2023; Net Debt/Equity of 0.47x FY23: Net revenue from operations stood at Rs 7,374 million showing an uptick of 33% EBITDA increased by 42% to Rs 1,013 million from Rs 714 million; EBITDA margin stood at 13.7% PAT increased by 21% to Rs 380 million from Rs 314 million with a PAT margin of 5.2% Commenting on the performance, Onkar S Kanwar, Chairman, Artemis Medicare Services, said, “Artemis ended FY23 on a high note with a consistent growth in performance throughout the year. We continue to achieve various milestones in clinical and non-clinical excellence and take pride in making quality healthcare available to our community. We have also invested in expanding our footprint through our brands including Artemis Lite, Daffodils, and Artemis Cardiac Care across the country. We continue to strive to become one of the most trusted brands in India keeping in mind the interest of patients, shareholders and employees of the company.” Announcing the results, Dr Devlina Chakravarty, Managing Director, Artemis Medicare Services, said, “We have had a great year where we have shown improvement in most financial and operational parameters. During the year, we have steadily ramped up occupancy in the 2nd Tower which was commissioned in FY22 and the construction of the 3rd Tower with ~200 beds is going on in full swing with 22 new OPDs in the ground floor of the 3rd Tower already inaugurated.” Result PDF