HCG Released Q4 FY2024 Earnings: Revenue Soared 12% YoY

Healthcare Global Enterprises Limited (HCG), one of the largest providers of cancer care in India under the brand “HCG,” released its results for the quarter, and the year ended on March 31, 2024.

Quarterly Performance

The overall average revenue per occupied bed (ARPOB) increased by 10% to ₹41,802 in Q4 FY24 from ₹38,042 in Q4 FY23. Established centres’ RoCE was 20.6% as opposed to 20.9% in FY23. The company completed ~290+ robotic surgeries (highest ever), which was up by 36% QoQ.

Business Highlights

HCG Borivali has received AACI accreditation, which would promote greater realisation and international institutional tie-ups. HCG awarded the Dun & Bradstreet Summit’s ESG Champion of India 2024 title. The Gujarati Ministry of Health and Family Welfare presented the AHPI Award for Excellence in Nursing Practices to HCG Ahmedabad.

“We experience a deep sense of fulfilment to report a consistent benchmark-beating performance across all fronts for the quarter and the fiscal year ending FY24. Year after year, HCG has achieved sustainable cancer care outcomes comparable to premier centres in the world, thanks to our unique value-based care model and focused factory approach, providing patients with the right treatment at the right time, using best-in-class talent, knowledge, technology, and infrastructure,” said Dr B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd.

He further added,” Given the mounting incidence of cancer in recent years, India has prudently enhanced its cancer diagnosis and treatment processes in the guiding light of visionary crusaders like HCG. We prioritise a deep engagement in academics and research alongside an unflinching focus on patient outcomes. In the past year, we have made significant triumphs, including the successful completion of comprehensive genomic profiling for over 1,000 cancer patients, executing complex surgeries, and launching our all-in-one mobile application, among other feats.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.