Shalby Q1 Review - Strong Performance Amid Higher Covid-19 Treatment: ICICI Direct

A doctor checks on a Covid-19 patient in the ICU ward. (Photographer: Andreas Gebert/Bloomberg)

Shalby Q1 Review - Strong Performance Amid Higher Covid-19 Treatment: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Shalby Ltd. reported strong Q1 FY22 results on a higher base.

Revenues grew 32.6% QoQ to Rs 192.4 crore on the back of likely sequential recovery in elective surgeries as well as increase in Covid-19 treatments.

Shalby's Ebitda margins declined 147 basis points QoQ to 19.9%, mainly impacted by Covid-19 treatments.

Subsequently, Ebitda increased 23.5% QoQ to Rs 38.3 crore.

Profit after tax grew 105.9% QoQ to Rs 20.2 crore due to lower tax rate.

Note: With base year numbers impacted by the first Covid-19 wave and lack of Covid related revenues, YoY results are not comparable.

Click on the attachment to read the full report:

ICICI Direct Shalby Q1FY22 Result Update.pdf

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