ICICI Direct: Narayana Hrudayalaya Q2 Review - Steady Improvement In Tough Times
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ICICI Direct Report
Narayana Hrudayalaya Ltd.’s recovery in financial performance post Covid-19 was better than expected.
Revenues grew 52.7% QoQ to Rs 600.7 crore (down 26.9% YoY) due to strong recovery seen across mature and new hospitals.
Ebitda margins were at 4.5% against -23.1% in Q1 FY21 and 14.8% in Q2 FY20, with sequential improvement in margins seen amid better operational leverage.
Net loss for the quarter was at Rs 3.4 crore against loss of Rs 119.7 crore in Q1 FY21 (profit of Rs 45.3 crore in Q2 FY20).
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