Narayana Hrudayalaya shares hit new peak as firm returns to black in Q2

New Delhi: Shares of Narayana Hrudayalaya zoomed more than 13 per cent to scale a new lifetime high on Thursday after the company returned to the black in the September 2021 quarter.

The healthcare facilities chain reported a net profit of Rs 99.34 crore in the quarter ended September 2021 as against a net loss of Rs 3.42 crore during the previous quarter ended September 2020.

Following the development, shares of Narayana Hrudayalaya surged as much as 13 per cent to Rs 620 on Thursday, before paring some gains to trade at Rs 606.30 at 10.10 am. The scrip had settled at Rs 546.90 on Wednesday.

BSE barometer and benchmark Sensex was trading 375.81 points or 0.62 per cent lower at 59,977.01 at the time of writing this report.

The hospital chain reported a 57 per cent jump in revenue to Rs 940.28 crore in the quarter ended September 2021 as against Rs 600.73 crore during the previous year quarter.

Indian operations staged a decent recovery during the quarter gone by after a significant impact was observed in Q1FY22, as the effects of the second wave of the pandemic subsided.

Shares of Narayana Hrudayalaya have soared about 80 per cent in the last one year while they have jumped about 22 per cent in the last one month.

Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities, with a network of 21 hospitals and 4 heart centres across India and overseas.

It has a hospital in the Cayman Islands, a heart centre at Chittagong, Bangladesh and a managed hospital at St. Lucia with over 6,100 operational beds across all its centres and the potential to reach a capacity of over 6,800 beds.