KIMS Hospitals' net profit grows multi-fold in Q1

Hyderabad: HIGHER occupancy of Covid patients led to a ten-fold growth in net profit of Krishna lnstitute of Medical Sciences Ltd (KIMS) Hospital at Rs 92 crore in April-June (Q1) quarter of this financial year against Rs 8.9 crore in the corresponding quarter last fiscal. Its total income increased 132 per cent at Rs 477.5 crore in Q1 of FY22 over Rs 205.5 crore in the same quarter previous year.

The growth in company's revenue and EBITDA (earnings before interest, taxes, depreciation, and amortisation) during Q1 FY22 has doubled compared to same quarter previous fiscal. It is mainly due to contribution from extracorporeal membrane oxygenation (ECMO) and heart and lung transplant programme. Q1 FY21 is not a comparable quarter on account of the lock down during the last fiscal.

In addition to bed occupancy, vaccination revenue, RTPCR tests, Covid home care and Covid hotel packages also contributed significantly for the rise in profits of the city-based hospital during the reviewed quarter.

During this unprecedented Covid crisis, KIMS rose to the occasion and did exemplary work by saving many lives in tough situations. It has done 20 Covid lung transplants till June-end. This is the highest number of lung transplants in Asia during this period. In anticipation of increasing needs, it acquired additional ECMO machines and it has helped in treating Covid patients effectively.

"At present, the hospital has 18 ECMO machines and this is possibly the largest number in a single centre in the country and we treated nearly 50 Covid patients on ECMO machines out of which 10 were doctors brought from various parts of the country, who were serving Covid patients," said Dr B Bhaskara Rao, Managing Director of KIMS Hospitals.