Newly-listed Yatharth Hospital surges 12% on strong Q1 results

Newly-listed Yatharth Hospital and Trauma Care Services Ltd zoomed nearly 12 per cent from its previous close on Friday after the company posted a strong set of financial results for the April-June quarter of the current fiscal year.

The company’s consolidated revenue grew 40 per cent year-on-year to Rs 155 crore as against Rs 111 crore in the corresponding quarter in the preceding fiscal year. The company’s profit also increased 73 per cent to Rs 19 crore compared to Rs 11 crore reported in the year-ago period. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 58 per cent to Rs 41 crore against Rs 26 crore reported in Q1 FY23. Margins also improved to 26.4 per cent against 23.4 per cent.

Yatharth Hospital market debut

The Yatharth Hospital stock was listed on the BSE and NSE on August 7, 2023. The price band for the IPO was set between Rs 285 and Rs 300. The IPO was subscribed 37.28 times but made a lukewarm listing at Rs 304 per share, which translated to a listing premium of just 1.3 per cent over the higher end of the IPO price band. Since then, the company’s shares have risen by around 12 per cent on the back of its solid financial performance.

Yatharth Hospital and Trauma Care Services Ltd offers healthcare services like super speciality hospitals in fields like cardiology, neurology, neurosurgery, urology, and more. The company also offers mother-and-child care, including advanced IVF facilities. The company’s hospitals are located across Uttar Pradesh in cities and areas like Noida, Jhansi, Greater Noida, and Noida Extension.

Shares of Yatharth Hospital were trading 8.13 per cent higher at Rs 337.05 apiece on BSE at 1:47 PM.