Consolidated EBITDA increased by 36% y-o-y to Rs. 2,340 million; EBITDA margins increased by 305 bps y-o-y to 27.4% in Q3 FY24

Net Profit grew by 53% y-o-y to Rs. 1,235 million

Both matured and developing hospitals reported strong revenue growth of 17% and 33% in Q3 FY24

Global Health Limited (NSE: Medanta, BSE: 543654), one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India, today announced its unaudited consolidated financial results for the quarter ending 31^st December, 2023.

Consolidated Highlights of the Quarter Ended 31^st December, 2023 (Q3 FY2024)

• Total income grew by 21% y-o-y to Rs. 8,545 million in Q3 FY24
• EBITDA grew by 36% y-o-y to Rs. 2,340 million in Q3 FY24
• EBITDA margins improved by 305 bps from 24.3% in Q3 FY23 to 27.4% in Q3 FY24
• Profit after tax grew by 53% y-o-y to Rs. 1,235 million in Q3 FY24
• PAT margins increased from 11.4% in Q3 FY23 to 14.5% in Q3 FY24
• Average Occupied bed days increased by 15% y-o-y, representing an average occupancy of 64% in Q3 FY24
• In-patients count increased by 13% y-o-y and Out-patient count increased by 20% y-o-y in Q3 FY24
• ARPOB grew by 4% y-o-y to Rs 60,571 primarily driven by increase in realisation at the Gurugram unit
• Developing hospitals (Medanta Lucknow and Medanta Patna) revenue share increased from 29% in Q3 FY23 to 32% in Q3 FY24 amounting to Rs. 2,742 million. Developing Hospital EBITDA share increased from 37% in Q3 FY23 to 41% in Q3 FY24 amounting to Rs. 968 million
• Matured hospitals also registered strong revenue growth of 17% y-o-y and EBITDA growth of 37% y-o-y amounting to Rs. 5,875 million and Rs. 1,484 million respectively
• Revenue from international patients increased by 6% y-o-y to Rs. 473 million, driven by increased volume and realization
• OPD pharmacy business continues to register strong growth. Revenue increased by 28% y-o-y from Rs. 224 million in Q3 FY23 to Rs. 287 million in Q3 FY24

Commenting on Q3 FY2024 results, Mr. Pankaj Sahni, Group CEO and Director said: “I am pleased to report that Medanta has delivered strong year on year performance during the quarter ended December 31, 2023. In Q3 FY2024, both our matured and developing units delivered robust revenue growth of 17% and 33% y-o-y respectively. This growth was primarily driven by increased in-patient volume and improved realization. Our commitment remains unwavering in building a sustainable long-term business model and providing the highest quality care across our key markets.”

Key Developments – Q3 FY2024

• Medanta Gurugram became the first hospital in India to use advanced AI-enabled penumbra lightning technology for treating pulmonary embolism and other blood clots
• Medanta Gurugram doctors used whole exome sequencing (a type of genetic sequencing) for confirming the diagnosis of cardiac channelopathy in a 5-year-old girl while also establishing the subtype of the disease and guiding medical therapy
• Medanta Lucknow doctors saved life of a young man suffering from severe aplastic anaemia by performing allogeneic bone marrow transplant
• Medanta Lucknow has launched advanced NICU ambulance and child development centre
• Medanta Patna performed stereotactic radio surgery (SRS) for the first time in the state of Bihar to treat a patient diagnosed with lung cancer that metastasized to the brain
• Medanta Patna successfully performed the first bone marrow transplant (BMT) to treat a myeloma patient
• Medanta has on boarded 253 doctors in 9M FY24 against same period last year. Out of 253 doctors, 159 doctors were added in matured hospitals while 94 doctors were added in developing hospitals
• Medanta Noida hospital is on track with 82% superstructure completed. Mechanical, electrical and plumbing work is currently under progress with hospital expected to commence operations by FY2025 end
• Medanta and DLF has incorporated a special purpose vehicle company namely “GHL Hospital Limited” to construct and operate super specialty hospital in South Delhi