GPT Healthcare reports strong Q3 FY24 performance, showcasing continued growth

GPT Healthcare Limited (BSE: 544131; NSE: GPTHEALTH), a leading name in the healthcare industry, has announced its financial results for the third quarter (Q3) ending December 31, 2023. Demonstrating a solid performance, the company reported a total income of ₹97.8 crore, marking a 4.2% increase year-on-year from ₹93.8 crore in Q3 FY23. This growth is reflective of GPT Healthcare‘s commitment to expanding its services and enhancing healthcare accessibility.

The company’s EBITDA for Q3 FY24 stood at ₹22.2 crore, up 4.6% from ₹21.2 crore in the corresponding period last fiscal year, with an EBITDA margin of 23%. The Profit After Tax (PAT) saw a significant jump of 37.4% year-on-year, reaching ₹11.5 crore, up from ₹8.4 crore in Q3 FY23.

Looking at the nine-month performance for FY24, GPT Healthcare showcased even more robust growth. The total income for the period reached ₹304.5 crore, a 13.5% increase year-on-year. EBITDA rose to ₹68.4 crore, up 26.3% from the previous year, while PAT surged by 37.9% to ₹34.9 crore. The company also declared a total dividend of ₹2 per share for the year to date.

Chairman of GPT Healthcare, Mr. Dwarika Prasad Tantia, expressed gratitude towards investors for their faith in the company’s successful listing on the BSE and NSE on February 29, 2024. He highlighted the operational and financial strength reflected in the quarter’s results, emphasizing the company’s focus on serving the middle to high-income segments with quality healthcare.

GPT Healthcare operates four hospitals in key locations such as Salt Lake, Agartala, Dum Dum, and Howrah, showing marked improvements in financial and operational metrics. The company’s focused presence in eastern India, a region with significant healthcare needs, positions GPT Healthcare as a leading provider aiming to expand its network to 150-200 bedded hospitals in under-served markets.

With the upcoming hospital in Raipur expected to be commissioned in Q4 FY25 and the radiation oncology unit in Agartala hospital in the next quarter, GPT Healthcare is set to further its mission of providing advanced medical care to eastern India’s burgeoning markets.

GPT Healthcare Limited’s Q3 FY24 financial results underscore the company’s successful growth strategy and its pivotal role in enhancing healthcare provision in eastern India. With a focused expansion plan and a commitment to medical excellence, GPT Healthcare is not only meeting the current healthcare demands but is also strategically positioned for future growth. This approach not only benefits the company’s financial health but significantly contributes to the well-being and development of the communities it serves, marking GPT Healthcare as a key player in India’s healthcare sector.