KIMS Hospital shares jump over 10% on strong Q1FY22 numbers; stock up 58% from issue price for this recently listed company

After reporting strong quarterly numbers, the newly listed shares of Krishna Institute of Medical Sciences (KIMS) Hospital surged over 10 per cent to Rs 1,300 on the BSE intraday trade Wednesday. The stock has jumped around 58 per cent from its issue price of Rs 825 per cent since its listing on July 5, 2021.

The counter ended over 8 per cent higher to Rs 1275 per share on the BSE.

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The healthcare company on Tuesday reported a 57 per cent surge in consolidated profit at Rs 92.0 crore during the first quarter of the financial year 2021-22 (Q1FY22) on a sequential basis.

The company’s consolidated revenue grew 31.6 per cent quarter-on-quarter (QoQ) at Rs 477.50 crore from Rs 362.70 crore in the previous quarter. While it’s EBITDA grew 41 per cent (QoQ) at Rs 147.9 crore and margins improved 200 basis points (bps) to 31.0 per cent from 29 per cent QoQ. 

The company said growth during Q1FY22 was on account of contribution from ECMO and Heart & Lung Transplant program, which has doubled compared to the previous quarter, and on higher occupancy of Covid patients. 

In addition, Vaccination revenue, RTPCR tests, Covid home care and Covid hotel packages also contributed significantly, KIMS said in its results filing to exchanges.

While critical surgeries like transplants, trauma etc continued elective surgeries were impacted during the quarter, the hospital chain said, However, the company has now seen the OP footfalls coming back to near normal and IP numbers are picking up too significantly. 

Trading volumes on the counter rose over 20-fold with a combined 2.37 million equity shares having changed hands on the NSE and BSE.

KIMS is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered. It operates nine multi-specialty hospitals under the 'KIMS Hospitals' brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021.