Healthcare Services company Medi Assist Healthcare Services announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Total Income is Rs 171.1 crore, a growth of 22.9% over the corresponding quarter of the previous year
- Revenue from contracts with customers excluding other income (“Operating Revenue”) is Rs 166.8 crore, a growth of 22.6% over the corresponding quarter of the previous year
- Revenue from contracts with customers included:
- 11.4% from Government business
- 5.2% from International benefits business
- EBITDA excluding Other Income (“Operating EBITDA”) is Rs 37.0 crore
- a growth 20.7% YoY over the corresponding quarter of the previous year
- a margin of 22.2% on Operating Revenue
- Profit after tax is Rs 25.7 crore, at 15% Margin on Total Income
- a growth of 50.6% YoY over the corresponding quarter of the previous year
- a margin improvement of 277bps YoY
FY24 Financial Highlights:
- Revenue from contracts with customers excluding other income (“Operating Revenue”) is Rs 634.7 crore, a growth of 25.7% over the previous year
- Revenue from contracts with customers included:
- 10.1% from Government business
- 5.8% from international benefits business
- EBITDA excluding Other Income (“Operating EBITDA”) is Rs 133.3 crore
- a growth of 11.7% YoY over the previous year
- a margin of 21.0% on Operating Revenue
- Profit for the period (adjusting for exceptional item) is Rs 92.3 crore
- a growth of 22.6% over the previous year
- a margin of 14.1% on Total Income
- Key Balance sheet and operating metrics for FY24 are as follows:
- Net cash balance in the books is Rs 245 crore
- Net Worth is Rs 481 crore, Return on Net Worth is 19.2%
- Return on Capital employed is 20.4%
- Revenue per average headcount (on non-government contracts) is Rs 1.38 million
Satish Gidugu, CEO, said, “Medi Assist has delivered another year of strong growth, with a 3 year revenue CAGR of over 25%, backed by the trust we continue to enjoy from our customers. Our organic growth clubbed with successful integration of acquisitions stand testament to our performance.”