Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Healthcare Services company Vijaya Diagnostic Centre announced Q4FY23 & FY23 results: Q4FY23: Revenue from Operations increased by 4.1% YoY to Rs 1,210 million, Non-Covid Revenues grew by 22.4% YoY The Non-COVID growth was driven by both radiology and pathology segments, highlighting the strength of our integrated model. During Q4FY23, the Non-COVID business comprised 99% of the total revenue share as against 85% of revenue share in Q4FY22 Wellness share in Q4FY23 was up at 13.4% as against 8.4% in Q4FY22 Revenue composition from the B2C segment stood at 94.8% EBITDA stood at Rs 491 million. EBITDA margin for the quarter was 40.6% as against 41.2% in Q4FY22 PAT stood at Rs 275 million. translating into a PAT margin of 22.7% FY23: Revenue from Operations stood at Rs 4,592 million as against Rs 4,624 million in FY22, NonCovid Revenues grew by 14.7% YoY Wellness share in FY23 was up at 12.1% as against 6.8% in FY22 Revenue composition from the B2C segment continued to stay strong at 95% EBITDA stood at Rs 1,820 million. EBITDA margin for FY23 was 39.6% PAT stood at Rs 846 million. translating into a PAT margin of 18.4% in FY23 Commenting on the performance Suprita Reddy, CEO said, "We are extremely delighted to announce that Q4 witnessed the stellar performance, with the achievement of the highest ever quarterly Non-COVID revenue growth of 22.4% year-on-year. This was characterised by strong performance in both radiology and pathology segments, reinforcing the strength of our integrated model. We consistently maintained our expansion momentum this quarter, expanding by 2 new hubs, 1 spoke and 2 mini spokes, taking the total centre count to 121. A noteworthy achievement during the quarter was the successful inauguration of VDCL’s state-of-the-art facility in Tirupati, Andhra Pradesh. Despite it being a relatively new location, we are glad to share that the customer response and the acceptance of our brand have been phenomenal. It is a thing of great joy and pride that our Rajahmundry and Punjagutta hubs have demonstrated consistent performance amidst immense competition in the diagnostic space and achieved an operating break-even within an extremely short span of just two to three quarters from the commencement of operations. The recently implemented comprehensive LIMS has successfully stabilized and is being effortlessly used across all our centres. This marks the fulfilment of a crucial milestone, enabling us to streamline operations and enhance efficiency on a larger scale, across our vast network of centres. Taking progressively steady strides towards patient convenience and a holistic patient experience, we have successfully built and launched a robust and easy-to-use mobile app that significantly enhances the overall patient experience. It is available for all test types, both in radiology and pathology alike, making it one-of-a-kind in the diagnostic space. This all-encompassing app is available for both iOS & Android. The company has also completed the successful roll-out of a fully functional e-commerce website. Our informed strategy of digital transformation, market research-backed approach for new market expansion and concentration on the enhancement of our network of centres will ensure sustainable year-on-year growth. We aim to adopt the highest standards of quality and to deliver a holistic customer experience whilst employing the most advanced technology and we firmly believe that this will enable us to make the most of the ever-evolving opportunity for growth in the diagnostic space." Result PDF
Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Healthcare services company Vijaya Diagnostic Centre announced Q3FY23 results: Q3FY23: Revenue from operations increased by 2.1% YoY to Rs. 1,131 million, non-covid revenues grew by 9.8% YoY During Q3FY23, the non-covid business comprised 99% of the total revenue share as against 92% revenue share in Q3FY22 Wellness share in Q3FY23 was up at 12.9% as against 8.5% in Q3FY22 Revenue composition from B2C segment stood at 95% EBITDA stood at Rs. 443 million. EBITDA margin for the quarter was 39.1% Healthy non-covid revenue coupled with operating leverage assisted margin performance despite costs on account of new centres PAT stood at Rs 164 million, translating into a PAT margin of 14.5% 9MFY23: Revenue from operations decreased by 2.3% YoY to Rs 3,382 million, non-covid revenues grew by 12.2% YoY Wellness share in 9MFY23 was up at 11.7% as against 6.3% in 9MFY22 Revenue composition from B2C segment continued to stay strong at 95% EBITDA stood at Rs 1,329 million. EBITDA margin was 39.3% PAT stood at Rs 571 million, translating into a PAT margin of 16.9% Commenting on the performance, Suprita Reddy, CEO, said, “We are pleased to report steady performance during a seasonally soft quarter for the industry. The volume trends that were slow in the months of October and November, saw a significant improvement in December and we hope to carry this momentum into the upcoming quarter. Our ongoing efforts to expand the network through the addition of new hubs and spokes has been progressing well. During this quarter, we opened 5 centres, including a one-of-its-kind facility at Punjagutta. Our newly opened state-of-the-art facilities in Punjagutta and Rajahmundry have received an overwhelmingly positive response from our customers. Additionally, our efforts to improve digital operations are proceeding smoothly, and we anticipate that these initiatives will considerably improve operational efficiency and enhance the customer experience across all of our centres. Looking ahead, the outlook for the diagnostics industry remains positive, with increasing demand for advanced medical services and a growing emphasis on preventive healthcare. We remain confident that our integrated diagnostics offerings, well-established brand and our robust B2C network will enable us to capitalize on the huge market opportunity." Result PDF
Healthcare service Vijaya Diagnostic Centre announced Q2FY23 results: Q2FY23 vs Q2FY22: Revenue from operations increased 7.1% YoY to Rs 1,207 million; non-Covid revenues grew by 15.1% YoY During Q2FY23, the company witnessed MoM improvement in businesses across all segments that assisted revenue performance and registered QoQ growth of 15.7% Wellness share in Q2FY23 was up at 12.4%, as against 6.7% in Q2FY22 Revenue composition from the B2C segment stood at 95% EBITDA stood at Rs 487 million. EBITDA margin for the quarter was 40.4% PAT stood at Rs 233 million, translating into a PAT margin of 19.3% H1FY23 vs H1FY22: Revenue from operations decreased by 4.4% YoY to Rs 2,251 million; non-Covid revenues grew by 13.4% YoY Wellness share in H1FY23 was up at 11.1% as against 5.3% in H1FY22 Revenue composition from the B2C segment continued to stay strong at 95% EBITDA stood at Rs 886 million; EBITDA margin for the quarter was 39.4% PAT stood at Rs 408 million, translating into a PAT margin of 18.1% Suprita Reddy, CEO, said, “We have delivered an encouraging performance in Q2FY23 with our revenues increasing by 15.7% and EBITDA increasing 22.2% QoQ. Despite considerably expanding our centres, our teams have made dedicated efforts to drive efficiencies leading to industry-leading EBITDA margins of 40.4% during the quarter. We recently operationalised one of our largest 16,000 sqft state-of-the-art Punjagutta centre in Hyderabad. Along with the commissioning of major hubs in the past few months, we have made healthy progress on expanding our mid- and small-sized spokes in our focused markets during the quarter. Furthermore, various steps to enhance the overall digitisation aspect in our operations are progressing well and we expect these digital initiatives to considerably enhance the overall operational efficiency at all our centres. The key pillars of our business are integrated diagnostic services, substantial presence in high-margin B2C business, and strong brand salience. This coupled with our other inherent strengths should assist the company to deliver sustainable growth, going forward.” Result PDF