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Hospitals in Delhi close to break even level; Mumbai likely in FY23: Narayana Health

business | Aug 9, 2021 3:15 PM IST

Hospitals in Delhi close to break-even level; Mumbai likely in FY23: Narayana Health

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Shetty added that there has been a significant pickup in July and the August trend seems healthy. A cause of worry is COVID patients coming to the hospitals in Bengaluru and Kolkata.

Viren Shetty, ED & Group COO of Narayana Health, on Monday said hospitals in Delhi are close to break-even level. A chain of multi-speciality hospitals reported better than an estimated set of earnings for the June-ended quarter. There is a marginal quarter-on-quarter (QoQ) revenue and profit growth but the margin has seen a slight slip.

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"The hospitals in Delhi are more or less at the break-even level. The hospital we have in east Delhi has been breaking even consistently for the past couple of quarters. The hospital in Gurugram hovers thereabouts and is hovering at the breakeven level. Our hospital in Mumbai being a children-only hospital and children not being as impacted by COVID still has ways to go. The breakeven time which would have been in this financial year will probably get pushed out to the next,” Shetty said.
On non-COVID trends, Shetty said the company has seen recovery since June as COVID numbers have been declining. "It has been replaced by people coming in for electro procedure, mostly domestically; international travel hasn’t picked up barring a few cases like transplant surgeries,” he said.
Shetty added that there has been a significant pickup in July and the August trend seems healthy. A cause of worry is COVID patients coming to the hospitals in Bengaluru and Kolkata, which is not the case in Delhi or Mumbai as of now, Shetty said adding the situation can change in case of the third wave of COVID-19.
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