Artemis Medicare Services Q1 Results: Net Profit Jumps 69.76% To Rs 16.67 Cr

The Q1 FY25 results of Artemis Medicare Services Ltd. have been released. In the quarter that ended in June 2024, Artemis Medicare Services' net profit climbed by 69.76% to Rs 16.67 crore, from Rs 9.82 crore in the quarter that ended in June 2023. Sales for the quarter ended June 2024 jumped by 6.52% to Rs 223.20 crore from Rs 209.54 crore in the corresponding quarter ending June 2023.

Dr. Devlina Chakravarty, Managing Director of Artemis Medicare Services Ltd, commented: "Our robust performance of Q1 FY25 reflects our conscious efforts towards streamlining all the financial and operational metrics. This is one of our best-ever quarterly performance with our highest ever ARPOB and EBITDA, giving a promising start to the year despite it being a seasonally muted quarter. We have focussed on leveraging cost efficiencies and optimising asset utilisation, which is reflected in our highest EBITDA margins."

"During the quarter, we have brought our third tower to the final stages and we look forward to operationalising it soon, which will further enhance our unit economics and overall financial and operational metrics. Additionally, our asset-light centres have shown improved performance as a result of our concentrated efforts," he further added.

"This quarter also marked our successful fund raise of INR 3,300 Mn from International Finance Corporation (IFC), a member of the World Bank Group to accelerate our growth plans. We plan to expand our presence in the superspeciality segment through addition of larger sized hospitals in our group. With this capacity enhancement we want to extend our top-of-the-line clinical expertise, patient care and operating efficiencies to serve a larger patient base and help solve complex health issues in the larger interest of society in a cost effective manner," Dr. Devlina Chakravarty commented.

The company manages 713 beds in total, most of which are in the Delhi NCR region. This includes 541 beds for quaternary care, super speciality hospitals with JCI and NABH accreditation, and 5 hospitals operating under the Daffodils and Artemis Lite brands. In a joint venture with Philips, the company also operates seven centres under the Artemis Cardiac Care brand. Mauritius is another country where Artemis has a presence thanks to an operations and management agreement.

Artemis Medicare Services Ltd is a small-cap company in the hospital sector with a market cap of Rs 3,395.91 Cr.