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Hospitals
Hospital revenues to grow 34.5% YoY with Fortis leading the pack
We expect our I-direct hospital universe revenues to increase by
34.5% YoY on the back of robust revenue growth by Fortis
Healthcare due to the SRL acquisition. Overall, we expect in-patient
volumes and average revenue per bed (ARPOB) to grow by 11%
and 6% YoY, respectively, for the quarter.
Operating margins to improve sequentially
Operating margins of the I-direct hospital universe are likely to
improve by 50 bps sequentially to 14.7%. Operating margins of
Apollo Hospital are likely to improve by 60 bps to 15.9% QoQ due to
an improvement in the pharmacy segment while the operating
margin of Fortis Healthcare is likely to see an improvement of 50
bps QoQ to 13.2% for Q1FY12E due to a pick-up in the utilisation of
newly commissioned hospitals at Shalimar Baug, Delhi and Mulund.
Profitability to improve on better margins
Profitability of the I-direct hospital universe is expected to improve
on stable operating margins and better revenue growth. Among the
peer set, we expect Fortis Healthcare to report net profit of | 33.5
crore vs. loss of | 14.5 crore reported last year. Apollo Hospitals is
expected to report net profit growth of 29.3% YoY on stable
business and better margins.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Hospitals
Hospital revenues to grow 34.5% YoY with Fortis leading the pack
We expect our I-direct hospital universe revenues to increase by
34.5% YoY on the back of robust revenue growth by Fortis
Healthcare due to the SRL acquisition. Overall, we expect in-patient
volumes and average revenue per bed (ARPOB) to grow by 11%
and 6% YoY, respectively, for the quarter.
Operating margins to improve sequentially
Operating margins of the I-direct hospital universe are likely to
improve by 50 bps sequentially to 14.7%. Operating margins of
Apollo Hospital are likely to improve by 60 bps to 15.9% QoQ due to
an improvement in the pharmacy segment while the operating
margin of Fortis Healthcare is likely to see an improvement of 50
bps QoQ to 13.2% for Q1FY12E due to a pick-up in the utilisation of
newly commissioned hospitals at Shalimar Baug, Delhi and Mulund.
Profitability to improve on better margins
Profitability of the I-direct hospital universe is expected to improve
on stable operating margins and better revenue growth. Among the
peer set, we expect Fortis Healthcare to report net profit of | 33.5
crore vs. loss of | 14.5 crore reported last year. Apollo Hospitals is
expected to report net profit growth of 29.3% YoY on stable
business and better margins.
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