Krsnaa Diagnostics reports 27% jump in FY2024 revenue at Rs 620cr

Krsnaa Diagnostics Ltd. (BSE: 543328 | NSE: KRSNAA), a leading provider of diagnostic services in India, announced its financial results for the fiscal year ended March 31, 2024, highlighting significant year-over-year growth and strategic expansions in its operations. The company’s robust performance underscores its dynamic growth trajectory and its strategic positioning within the rapidly evolving Indian diagnostics sector.

Krsnaa Diagnostics Financial Highlights and Growth Metrics

Krsnaa Diagnostics has reported a substantial increase in its annual revenue, reaching Rs. 6,196 million for FY2024, up by 27% compared to the previous fiscal year. The company’s EBITDA stood at Rs. 1,461 million, marking an 18% growth year-over-year, with a commendable margin of 24%. However, despite these gains, the Profit After Tax saw a slight decline of 9% year-over-year, totaling Rs. 568 million.

Operational Achievements and Strategic Initiatives of Krsnaa Diagnostics

The past fiscal year has been pivotal for Krsnaa Diagnostics with several key operational milestones. Notably, the company’s Pune facility received CAP Accreditation, becoming the first laboratory operating in a government hospital in India to achieve this status. This accreditation underscores the company’s commitment to maintaining the highest standards of quality in diagnostic services.

Krsnaa Diagnostics reports robust FY2024 financial performance and strategic expansions in the Indian healthcare landscape.

Further solidifying its market presence, Krsnaa Diagnostics secured a major agreement with the Maharashtra Government to install and operate 17 MRI and 17 CT scan machines, marking one of India’s largest MRI tenders to date. The expansion didn’t stop there; the company added 359 new centers nationwide, pushing its total to over 3,500 centers across 15 states and two Union Territories.

Leadership and Future Outlook

Reflecting on the financial results and operational successes, Yash Mutha, Joint Managing Director of Krsnaa Diagnostics, stated, “We are thrilled with our performance this fiscal year which aligns with our strategic growth plans. Our new initiatives and the CAP accreditation are set to further enhance our leadership in the diagnostics industry.”

Pallavi Bhatevara, Executive Director, highlighted the broader implications for the Indian healthcare ecosystem, citing increased consumer awareness and a rise in lifestyle-related diseases as key drivers for growth. “Krsnaa Diagnostics continues to play a major role in providing high-quality and affordable diagnostic services, which are fundamental to improving healthcare in India,” she added.

The strategic expansions and the accreditation achievements of Krsnaa Diagnostics not only enhance its service offerings but also position it well for sustainable long-term growth. As the company increases its footprint, its focus on high-quality, accessible diagnostic services is likely to set new standards in the industry and offer substantial returns to its stakeholders.