HYDERABAD, India, May 16, 2023 /PRNewswire/ -- Rainbow Children's Medicare Limited (RCML), a leading multi-specialty pediatric and perinatal care hospital chain in India, has announced its financial results for the fourth quarter and fiscal year ending on March 31st, 2023. The company shows robust operational and financial performance throughout the fiscal year FY23, with sustained progress during the fourth quarter, as demonstrated by significant growth in key operational metrics such as outpatient footfalls, inpatient volumes and occupancy rates. This momentum builds on the successes achieved during the second and third quarters.
Speaking on the performance of the company for the Q4, FY2023, Dr. Ramesh Kancharla, the Chairman and Managing Director, Rainbow Children's Medicare Ltd., said, "It gives me great pleasure to announce that the company has shown a formidable performance in the last quarter, driven by a significant increase in patient footfall across all our hospitals. The fourth quarter of fiscal year 2023 saw revenues of Rs. 3,169.66 million, reflecting an impressive growth of 49.20% compared to the corresponding quarter of fiscal year 2022, which had revenues of Rs. 2,124.47 million. Additionally, the EBIDTA for the fourth quarter of FY23 was Rs. 980.07 million, marking a remarkable growth of 103.62% compared to Q4 of FY22, which had an EBIDTA of Rs. 481.33 million. The PAT for Q4 FY23 was Rs. 538.63 million, displaying a growth of 339.34% compared to Q4 FY22, which had a PAT of Rs. 122.60 million."
"The company is focused on executing the business plan, put forth during the IPO, of adding 1000 beds across the target markets. The proposed expansion for the current financial year includes addition of ~270 beds in Central Hyderabad (60 beds), Hydernagar (50 beds), Anna Nagar (80 beds) and Sarjapur (80 beds). Additional ~160 beds are slated for commencement in the next financial year at Rajahmundry (100 beds) and a new spoke hospital in Bengaluru (60 beds). Furthermore, the company aims to increase its bed count by ~400 across the National Capital Region by FY26-27."
"The company remains committed to fulfilling its mission of delivering excellent multi-disciplinary pediatric and perinatal care and strives to enhance its service offerings by making constant improvements," mentioned Dr. Ramesh Kancharla.
For further details, click here - https://www.rainbowhospitals.in/investors-relations/quarterly-results
About Rainbow Children's Medicare Limited
Rainbow Children's Hospital, the leading chain of multi-speciality pediatric hospitals has been in the forefront to offer advanced pediatric care to children in need. With the advanced technology, state-of-the-infrastructure, team of experts and hospitals spread across the country offer tertiary and quaternary care including complex cardiac surgeries, neurosurgeries, pediatric liver transplants and pediatric bone marrow transplants along with pediatric renal transplants.
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