Shalby, for Q2FY21 posted a 86% (YoY) jump in standalone net profit at Rs.24 crore. This was despite the 13.5% drop in net revenue at Rs.109 crore.
The 20% drop in operating expenses is what really helped shore up its bottomline.
But on a sequential basis, it has bounced back from a loss of Rs.9 crore though net revenue was down 37%.
EBITDA returned to profitability at Rs.31 crore and margins improved significantly to 28% v/s 23.9% (YoY). The margin improvement was primarily driven by higher occupancy from Covid-19 patients coupled with lower consumption of materials and consumables
Its occupancy in current Q2 was at 41% v/s 39% (YoY) and 17% in Q1FY21. It treated a total of 3250 Covid patients.
The stock opened with a gain of 6.5% today at Rs.106.20 and hit an intraday high at Rs.109, up over 9%. Its 20% UC for the day stands at Rs.119.75.