NH hits a new high

Narayana Hrudayalaya (NH) is the second top gainer on the BSE currently. The stock, which had closed yesterday at Rs.546.90, opened itself in the green at Rs.570.10 and went on to hit a new high at Rs.620. Its 20% UC for the day is at Rs.656.25 and volumes are up 9-times.

The stock hit a high after it posted a turnaround – from a consolidated net loss of Rs.3.4 crore it posted a net profit of Rs.99 crore in Q2FY22 (YoY).

Its operating income rose 56% at Rs.940 crore. EBITDA came in at Rs.181 crore v/s Rs.37 crore and margins went up from 6.19% to 19.3%.

The company said that with new Covid-19 cases waning across the country, the management remains encouraged by the business momentum revival across the network. However, the profitability of flagship Health City, Bengaluru centres remain affected, as compared to the pre-Covid times, given the erosion in international patient mix as well as high-end cardiac sciences based elective work.

The company, a healthcare service provider, has a network of 21 hospitals and 4 heart centres across India along with overseas presence across a hospital at Cayman Islands, a heart centre at Chittagong, Bangladesh and a managed hospital at St. Lucia with over 6,100 operational beds across all its centres and potential to reach a capacity of over 6,800 beds.