Business News | Rainbow Children's Medicare Profit Jumps 339 Pc to over 54 Crore in Fourth Quarter

Hyderabad (Telangana) [India], May 15 (ANI): Rainbow Children's Medicare on Monday posted a 339 per cent in its profit after tax to Rs 53.86 crore for the quarter ended March 31, 2023, against Rs 12.26 crore in the year-ago period.

The firm's revenue was at Rs 316.96 crore, against Rs 212.44 crore in the corresponding quarter of the previous year. Its earnings before interest, taxes, depreciation, and amortisation (Ebitda) was Rs 98 crore in the quarter under review, against Rs 48.13 crore in the year-ago period.

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The company said it delivered robust operational and financial performance during the fourth quarter and the financial year FY23. Strong momentum witnessed in the second and third quarter continued into the fourth quarter across all key operating metrics including outpatient footfalls, inpatient volumes and occupancy.

Ramesh Kancharla, Chairman and Managing Director, Rainbow Children's Medicare (RCML) said, "I am pleased to inform you that the company has delivered robust quarterly performance, led by high patient footfall across hospitals. The revenues for Q4 FY23 (fourth quarter) was Rs 3,169.66 million, which is a growth of 49.20 per cent compared to Rs. 2,124.47 million in Q4 FY22.

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During the quarter, the company appointed Sanjeev Sukumaran as Chief Operating Officer (COO). The company said he has over 25 years of experience in strategic management, business advisory, sales and marketing, business development, and client relationship management across a diverse range of sectors.

The CMD added, "The Ebitda for Q4 FY23 was Rs 980.07 million, which is a growth of 103.62 per cent compared to Rs 481.33 million in Q4 FY22 and the PAT for Q4 FY23 was Rs. 538.63 million, which is a growth of 339.34 per cent compared to Rs 122.60 million in Q4 FY22." (ANI)

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