VMPL
New Delhi [India], February 10: Artemis Medicare Services Limited ("Artemis" or the "Company") (BSE: 542919 | NSE: ARTEMISMED) has declared its third-quarter fiscal year 2024-25 results. During the quarter, the company's Average Revenue Per Occupied Bed reached an all-time high of Rs.80,200. Artemis operates more than 800 beds in Delhi-NCR, more than 700 of which are quaternary care beds. Artemis has JCI and NABH-accredited super-specialty hospitals in its network. The company also has the Artemis Cardiac Care brand in association with Philips and an international presence through an Operations and Management Agreement in Mauritius.
In the October-December 2024 quarter, net revenue from operations of Artemis Hospital Gurugram increased by 7.5% to Rs.217.1 crore, and EBITDA margin improved from 18.2% to 21.4%. The bed capacity utilization, including the new tower, was 60.4%. International patient revenue increased by 11.6% at Rs.64.9 crore and contributed 30% to net revenue. The number of patients treated during the quarter was 91,673, and surgeries were 3,215 with an average hospital stay of 3.70 days per patient.
On a consolidated basis, net revenue from operations was up 6.2% at Rs.232.4 crore, EBITDA was up 34.4% at Rs.46.3 crore, pre-tax profit was up 64.4% at Rs.26.8 crore, and post-tax profit was up 78.3% at Rs.20.6 crore.
Net revenues from operations during the first nine months of the current fiscal year, April-December 2024, rose 6.7% to Rs.697 crore, while EBITDA jumped 36.3% to Rs.136.5 crore. The EBITDA margin increased from 15.3% to 19.6%. During the period, post-tax profit rose 70.1% to Rs.59.3 crore from Rs.34.8 crore in the corresponding period of the previous fiscal year.
Dr. Devlina Chakravarty, Managing Director of Artemis Medicare Services Limited, stated, "We are pleased to report strong results for the third quarter and the first nine months of this fiscal year, powered by key operational efficiencies. The period is normally low business; however, we have achieved growth year on year and recorded the highest ARPOB ever. The increasing share of revenue from international patients continues to reestablish our position as a trusted medical value travel destination. We look to achieve higher occupancy at Tower 3 to absorb the inflow increase. In the quarter, we took several steps to improve operational efficiency as well as procedural issues. Also, we had aligned ourselves with Abhinav Bindra Targeting Performance to introduce technology-based physiotherapy services. As part of this strategic expansion, we also plan to launch operations from our center at Raipur within the next year."
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