BENGALURU (Reuters) – Indian hospital chain operator Narayana Hrudayalaya Ltd on Wednesday reported a 58% surge in third-quarter profit, helped by higher margins and an increase in per-patient revenue.
The Bengaluru-based company’s net profit rose to 1.54 billion Indian rupees ($18.67 million) in the quarter from 974.9 million rupees a year earlier.
Average revenue per patient admitted in hospital rose 6.5% to 116,500 rupees, even as the average length of stay came down slightly to 4.5 days from 4.6 days.
Newer hospitals and an improvement in payor mix, or reimbursements from insurers, helped the company’s quarterly results, Group Chief Executive Emmanuel Rupert said.
Earnings before interest, taxes, depreciation and amortisation margin, a key profitability metric, jumped to 19.1% from 14.0%.
($1 = 82.4920 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Shounak Dasgupta)