Gurugram, India | February 5, 2025
Artemis Medicare Services Limited (NSE: ARTEMISMED, BSE: 542919) has announced its unaudited financial results for the third quarter (Q3) and nine months ended December 31, 2024. The company also disclosed key strategic decisions, including the relocation of a hospital unit.Key Financial Highlights (Standalone)
(₹ in Lakhs)| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations | 22,689.34 | 23,467.42 | 21,026.04 | 67,846.00 | 62,836.13 |
| Total Income | 23,569.68 | 24,217.09 | 21,196.98 | 69,914.20 | 63,377.79 |
| Operating Expenses | 13,731.31 | 14,100.21 | 12,987.96 | 40,862.32 | 39,171.36 |
| EBITDA (excl. other income) | 4,060.24 | 4,367.17 | 2,895.52 | 11,751.10 | 7,616.96 |
| Profit Before Tax (PBT) | 2,704.12 | 3,108.01 | 1,626.51 | 8,025.74 | 4,859.64 |
| Net Profit | 2,077.83 | 2,255.83 | 1,151.26 | 6,025.32 | 3,522.18 |
| Earnings Per Share (EPS) – Basic | ₹1.33 | ₹1.44 | ₹0.85 | ₹3.94 | ₹2.59 |
- Revenue Growth: 7.91% increase from Q3 FY24.
- Net Profit: 80.50% YoY growth.
- EBITDA Margin Expansion: Improved due to operational efficiencies and cost optimization.
Key Financial Highlights (Consolidated)
(₹ in Lakhs)| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations | 23,739.14 | 24,142.14 | 21,878.39 | 69,701.66 | 65,333.36 |
| Total Income | 24,118.89 | 24,886.10 | 22,056.84 | 71,765.75 | 65,878.95 |
| Profit Before Tax (PBT) | 2,680.89 | 3,055.36 | 1,630.92 | 7,900.16 | 4,821.55 |
| Net Profit | 2,059.73 | 2,213.07 | 1,155.21 | 5,925.23 | 3,484.05 |
| EPS – Basic | ₹1.32 | ₹1.42 | ₹0.85 | ₹3.89 | ₹2.58 |
Segment-Wise Performance
- India Operations: ₹16,202.61 Lakhs in revenue (up 6.50% YoY).
- International Patients Revenue: ₹6,486.73 Lakhs (up 11.60% YoY).
- Non-Current Assets: ₹81,234.62 Lakhs.
Strategic Announcements
Hospital Unit Relocation
- The ‘Daffodils by Artemis’ unit, specializing in Women and Child Healthcare, will be relocated from Sector 40, Gurugram, to Artemis’ flagship hospital in Sector 51, Gurugram.
- This move is aimed at achieving economies of scale and reducing operational expenses.
- Operations at the current location will cease from February 28, 2025.
- The unit contributed ₹1,382.24 Lakhs in revenue (1.57% of total revenue) and had a net worth of ₹354.18 Lakhs as of March 31, 2024.
Corporate Actions & Funding
- The company issued 17,41,750 equity shares to the Managing Director under its Stock Option Plan 2021.
- Raised ₹33,000 Lakhs through Compulsorily Convertible Debentures (CCDs) issued to International Finance Corporation (IFC).
- Conversion Price: ₹174.03 per share.
- Potential Dilution: Up to 1,89,62,247 equity shares.
- Equity Component in Other Equity: ₹31,757.11 Lakhs.
Management Commentary
Onkar Kanwar, Chairman, stated:Strategic Outlook
- Capacity Expansion: The company is focused on expanding high-value healthcare services in cardiac care, oncology, and orthopedics.
- International Patient Market: Growth in international patient revenues remains strong, driven by an 11.60% YoY increase.
- Operational Efficiencies: Cost management initiatives are expected to improve margins further.
- Digital & Telemedicine Growth: Plans to enhance digital health services and telemedicine outreach.
Investor Takeaways
- Revenue Growth: Sustained increase in domestic and international segments.
- Profitability: Significant 80.50% YoY net profit growth.
- Operational Strategy: Relocation to improve cost efficiency.
- Fundraising & Expansion: Strong backing from IFC for future growth.
Stock Market Impact & Investor Sentiment The strategic decisions, combined with healthy financial performance and institutional funding, are likely to bolster investor confidence and support long-term growth.