Healthcare Facilities company Artemis Medicare Services announced consolidated Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Net Revenue from Operations increased by 15.3% to Rs 2,252 million from Rs 1,953 million
- EBITDA increased by 42.1% to Rs 399 million from Rs 280 million
- EBITDA margin at 17.7% compared to 14.4%
- PAT increased by 33.6% to Rs 143 million from Rs 107 million, with margin of 6.4%
- Net Debt of Rs 1,922 million as on 31st March 2024
- Net Debt/Shareholder’s Equity of 0.42x
FY24 Financial Highlights:
- Net Revenue from Operations of Rs 8,786 million compared to Rs 7,374 million, growth of 19.1%
- EBITDA increased by 38.3% to Rs 1,401 million from Rs 1,013 million
- EBITDA margin at 15.9% compared to 13.7%
- PAT increased by 29.3% to Rs 491 million from Rs 380 million, with margin of 5.6%
Announcing the results, Dr. Devlina Chakravarty, Managing Director of Artemis Medicare Services, commented: "We are delighted to announce the strong performance of Q4FY24 and FY24, with growth across all major metrics. During the year, we fully operationalised the remaining beds in the second tower, helping us derive the benefits of economies of scale and improving our efficiencies. The construction of our third tower is also in the final stages, which, when operationalised, will enhance our financial and operational metrics. Additionally, as our asset light centres achieve maturity in the coming years, our consolidated performance will also improve. This year, we added a new centre under the Artemis Lite brand in Gurugram, catering to the New Gurugram area. The year also marked our presence overseas through the inauguration of the first hospital in Mauritius under Operations and Management agreement.
Operationally, we focused on refining the case mix and payer mix and improving financial parameters, resulting in one of the highest-ever ARPOBs in the industry. Our industry leading revenue share from international patients asserts our role and recognition as a trusted centre for Medical Value Travel. We have also extended our OPD timings in the evening to serve more salaried-class patients.
As part of our strategic growth initiatives, we are exploring expansion opportunities, which will help us leverage our brand, strengthen our presence in Northern India and act as a stepping stone to grow Artemis' presence in the region.
Looking ahead into FY25, we are confident to continue our robust performance and become one of the most well-regarded healthcare provider in India. We will continue to focus on clinical and non-clinical excellence, with innovative strategies and plans to expand our footprint, domestically and internationally."