Shares of Yatharth Hospital and Trauma Care Services, one of the leading private super specialty hospitals in Delhi NCR, jumped 10.60% to ₹345.40 in Friday's early trade. This strong spike was in response to the company's stellar performance in Q1FY24.
The company on Thursday posted a 39% YoY growth in revenues to ₹155 crore. It reported a 61% YoY rise in EBITDA to ₹41 crore, while the EBITDA margin improved by 368 basis points YoY to 26.8%.
On the bottom line, the company's consolidated net profit jumped to ₹19 crore, a 73% improvement compared to a net profit of ₹11 crore recorded in the corresponding period of last year. The bed occupancy rate improved to 51% in Q1FY24 compared to 40% in Q1FY23 and 48% in the preceding March quarter.
Commenting on the performance, Yatharth Tyagi, Whole Time Director, Yatharth Hospital, said, "This quarter marked a pivotal landmark for our organisation with a successful listing on the stock exchanges. We are pleased to report robust performance in our maiden quarter."
“During the quarter, Yatharth Hospitals registered one of the highest year-on-year growth rates in the hospital industry. Our ongoing investments reflect a strategic approach to nurturing well-balanced future growth, exemplified by ongoing expansion initiatives, both organic and inorganic,” he said.
Incorporated in 2008, Yatharth Hospital and Trauma Care Services Limited (YHL) is a multi-care hospital chain. It ranks among the top 10 largest private hospitals in the National Capital Region of Delhi. Yatharth Hospital presently operates three super specialty hospitals situated in Delhi NCR, i.e., at Noida, Greater Noida, and Noida Extension, Uttar Pradesh. Further, Noida Extension Hospital has 450 beds and is one of the largest hospitals in the area.
On August 7, 2023, the company's shares debuted on the Indian stock exchanges with a listing gain of 11% at ₹333 per share, as compared to the issue price of ₹300. Yatharth Hospital had raised approximately ₹687 crore through its initial public offering (IPO). The IPO, which was available for subscription from July 26 to July 28 in the price range of ₹285–300 per share, garnered an impressive subscription of 37.28 times from investors.