HCG posts revenue worth Rs 2,579 million in Q4

In FY 19, the company’s revenue is at Rs 9,787 million

Bengaluru-based cancer care provider, HealthCare Global (HCG) recently announced its financial results for the quarter (Q4 FY19) and fiscal year (FY19) ended March 31, 2019.

The company for Q4 ending March 31, 2019 posted consolidated income from operations (revenue) of Rs 2,579 million as compared to Rs 2,223 million in the corresponding quarter of the previous year, reflecting a year-on-year increase of 16 per cent.

Consolidated profit before depreciation and amortisation, finance costs, exceptional items and taxes (EBITDA) was Rs 354 million as compared to Rs 348 million in the previous year in the corresponding quarter of the previous year.

In FY 19, the consolidated income from operations (revenue) is at Rs 9,787 million as compared to Rs 8,307 million in the previous year, reflecting a year-on-year increase of 17.8 per cent.

Consolidated profit before other income, depreciation and amortisation, finance costs, exceptional items and taxes (operating EBITDA) was Rs1,252 million as compared to Rs 1,188 million in the previous year.

Operating EBITDA loss from new centres was Rs 140 million as compared to a loss of Rs 90 million in the previous year.

Consolidated profit after taxes and minority interest (PAT)(4) was a loss of Rs 248 million as compared to a profit of Rs 205 million in the corresponding quarter of the previous year.

Commenting on the results, Dr BS Ajaikumar, Chairman and CEO, HealthCare Global said, “We are happy to report Q4 and FY19 earnings, with robust growth across regions. Looking back at our journey over last three years as a publicly listed company, as of FY2019, new patient registrations at our cancer centres more than doubled as compared to FY2016. This is a testament of the huge need to address the rising incidences of cancer in the country. In addition, we continue to make a deep social impact to lives of thousands of patients and their families, midst an active regulatory environment for healthcare. The existing centres of HCG, continue to demonstrate steady growth, strong margins and healthy ROCEs. With launch of seven hospitals in the last 18 months, we have created significant scale and our capex cycle is close to the end, with no new centre being launched in the next few quarters. We are now at an inflexion point in the near future, as we dedicate our efforts towards generating returns from these substantial investments over the next few quarters. Strand Life Sciences, our precision medicine platform with high strategic alignment to our future vision, is growing rapidly. Overall, we are excited about having created a scaled platform in oncology, with Pan-India presence and are committed to focus on driving value creation for all our stakeholders.”