Nawaloka Hospitals records ‘impressive’ Rs.120mn PBT

Nawaloka Hospitals PLC recorded a stellar growth during the first quarter for FY23/24, with a Rs.120 million profit-before-tax (PBT) in its interim financial statement for the quarter which ended on June 30, 2023, marking a 158 percent increase over the previous year for the same period, a Nawaloka Hospitals press release said.

The release adds: ‘The report highlighted the Group’s recent restructuring and increased activity in key areas such as medical innovation and patient-care excellence, accounting for a swift recovery and positive turnover.

Revenue was recorded at Rs.2.6 billion, a 21 percent increase over the previous year’s Rs.2.1 billion. Similarly, the Group’s Operating Profits rose by 185 percent at Rs.570 million, over the previous year’s Rs.200 million.Share performance also improved with the Group recording an Earning Per Share of 0.085 as at June 30, 2023, compared to the previous year’s (0.148).

Over the same period, the Company recorded a healthy 2,224 percent increase in PBT, marking Rs.94 million over the previous year’s Rs.4 million.The company recorded Rs.1.3 billion in Revenue, a 19 percent growth over the previous year’s Rs.1.1 billion, and an Operating Profit of Rs.423 million, a 72 percent increase over the previous year’s Rs.246 million.

The Company’s Earning Per Share stood at 0.067, proving improved performance over the previous year’s 0.003.Attesting to Nawaloka Hospitals PLC’s positive growth trajectory, Dr. Jayantha Dharmadasa, chairman, Nawaloka Hospitals PLC reflected on some of the organisation’s key milestones in 2023, including the achievement of 15,000 successful heart surgeries performed at Nawaloka Hospitals, and its strong emphasis on patient-care experience improvement.

Some activities under this pillar were the VVIP Elite Center which was launched to offer more customised and privacy-focused healthcare services, as well as the complete overhaul of Nawaloka Hospitals’ homecare and nursing services, which were focused towards providing a superior patient experience.‘Another notable initiative undertaken by the Hospital was its collaboration with the ICBT Campus, to introduce their nursing staff to world-class nursing care education and exposure, which contributed towards the growth of the Hospital’s nurse-staff capabilities and skill, as well as the individual growth of these valued healthcare workers.

“These substantiated figures of growth stand as a testament to the organisation’s core values and efforts in overcoming unfavourable situations with the utmost level of hope and strategic alliance. The turbulence of the previous few years has allowed our organisation to stand out stronger, while continuing our endearing commitment to uplift the standards for our healthcare services, as well as our community contributions. We speculate further growth in the coming quarters, and look forward to a fruitful year ahead,” stated Dr. Jayantha Dharmadasa, Chairman, Nawaloka Hospitals PLC, on the released interim financial statements.