Artemis Medicare Services Q3 results: PAT grows 12.5% in October-December; revenue rises 17%

Gurgaon-based hospital chain Artemis Medicare Services on Tuesday said its profit after tax rose by 12.5 per cent to Rs 12 crore for the October-December quarter compared to the year-ago period.

Revenue from operations rose by 17 per cent to Rs 219 crore in the third quarter of 2023-24 from Rs 187 crore in the year-ago period, according to a company statement.

Average gross revenue per occupied bed rose to Rs 77,900 in the third quarter of FY24 from Rs 67,800 a year ago. Bed capacity utilisation was at 65 per cent, the company said.

Artemis Medicare operates a total of 713 beds predominantly in the Delhi NCR region, including a 541-bed quaternary care, super speciality hospital based in Gurugram and five hospitals under the Artemis Lite and Daffodils brands.

The company also runs eight centres under the Artemis Cardiac Care brand under the JV with Philips. Shares of the company declined by 4.01 per cent to close at Rs 177.35 on BSE.

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