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HealthCare Global Enterprises Ltd (HCG), one of the largest providers of cancer care in India through its network of 22 comprehensive cancer centres across the country and Africa, has declared a net profit of ₹103.1 crore on a revenue of ₹352 crore in the second quarter of the current financial year.
The Bengaluru-headquartered HCG also operates seven fertility centres under the ‘Milann’ brand. StrandLife Sciences is another associate company of HCG which offers precision diagnostics, apart from bioinformatics and genomic testing in India.
More international patients
The company returned to profitability after 13 quarters. Commenting on the results, Dr. BS Ajaikumar, Executive Chairman, HCG said, “The company has turned in industry-leading revenue growth this quarter, which is also backed by improving profitability, especially among the new centres that have not yet reached the mature stage of operations. The growth opportunities ahead of us in the domestic business is quite strong and we are also seeing a turnaround in the number of international patients visiting our centres with the easing of travel restrictions.”
The Executive Chairman went on to add, “Milann has also performed very well with a growth of 57 per cent on the back of a new leadership team aided by our focus on digital outreach which is delivering us the desired results.”
He said, “Overall, HCG is positioned very uniquely with a strong pipeline as well as a de-levered balance sheet to deliver superior growth and profitability but with a clear focus on tangible outcomes for all our stakeholders, most important of which are our patients for whom positive outcomes from the disease are the best return.”
Raj Gore, CEO, HCG, said, “We delivered our highest revenue and EBITDA for any quarter ever in our history. I would like to highlight that over the last three quarters, we have consistently reported our highest revenue. This is also the first quarter after 13 quarters where our PAT is back in the positive territory. The result showcases our entire team’s focus on driving growth and operational efficiencies which we are confident of continuing in the quarters to come.”
On Friday, shares of HCG were down 2.14 per cent to end the day at ₹258.75 on the bourses.
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