Shares of Jupiter Life Line Hospitals rose nearly 7 percent after the company reported strong results for the quarter ended March. On a sequential basis, the company's consolidated net profit for Q4FY24 rose 187 percent to Rs 45.3 crore and total income rose 20 percent to Rs 291.4 crore.
At 1 pm, Jupiter Life's shares were trading 5 percent higher at Rs 1,302 apiece. The stock has gained 30 percent in the past six months, outperforming Nifty 50, which gained 13 percent during the same period.
The full-year net profit and total income also rose on an annual basis. While the net profit rose 142 percent year-on-year to Rs 176.6 crore in FY24, the total income rose 20 percent on year to Rs 1,073.4 crore in FY24.
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The full-year EBITDA rose 19 percent to Rs 242.1 crore in FY24 YoY while the Q4FY24 EBITDA rose 23 percent on year to Rs 63.2 crore. The EBITDA margin rose by 40 basis points to 21.7 percent in Q4FY24.
The average occupancy rate of the healthcare company rose by 130 basis points to 63.8 percent in FY24 from 62.5 percent in FY23. The operational bed capacity rose to 961 in FY24 from 950 in FY23. Jupiter Life operates three hospitals in Thane, Pune, and Indore.
Jupiter Life aims to double its capacity to 2,500 beds in Western India in the next 5 years, by adding around 1,300 beds across three new hospitals. The company has signed a second location in Ganga Dham Chowk, Bibwewadi (Pune), where it will be building a 500-bed hospital. "The new location in Pune along with the already under-construction hospital at Dombivli, gives us visibility of about 2,200 beds," Ankit Thakker, Chief Executive Officer of Jupiter Life said in an investor presentation.
"In FY25, we hope to finalise one more location to help us deliver on the scale milestone that we had set out to achieve," Thakker added.
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