The profit before tax rose 9.4% to Rs 21.87 crore in Q2 September 2020 over Q2 September 2019. Shalby received a tax rebate of Rs 2.59 crore in Q2 September 2020 as against Rs 7.07 crore of tax paid in Q2 September 2019. The result was announced after market hours yesterday, 12 October 2020.

Commenting on performance, Shanay Shah, President said, "All our hospitals, except SG Shalby, have continued to treat Covid-19 patients and provide the required infrastructure support and medical facilities needed to try to address this ongoing unprecedented health crisis. In addition to having treated over 3,250 Covid-19 patients in total across our hospital group, during the last quarter we have also registered an increase in both arthroplasty and orthopedics elective surgeries. As a result of this, we have seen a sharp rebound in both our business and financial key performance indicators during Q2 FY21.

During the quarter, Shalby delivered total income of Rs. 1,118 million, an increase of 174% on a q-o-q basis and a decline of 12.9% on y-o-y basis. This was due to bed occupancy levels moving up meaningfully to 41% in Q2 FY21 as compared to 39% in the same quarter last year. EBITDA returned to profitability at Rs. 314 million and margins improved significantly to 28.0% as compared to 23.9% in Q2 FY2020. The margin improvement was primarily driven by higher occupancy from Covid-19 patients coupled with lower consumption of materials and consumables. Overall, net profit was Rs. 242 million with margins of 21.6%. From a balance sheet perspective, Shalby remains well capitalized with net cash of Rs. 503 million at the end of September 2020 compared with Rs. 398 million last quarter."

Shares of Shalby have gained 19% in three days from its previous closing low of Rs 87.35 posted on 8 October.

Shalby operates a multi-specialty chain of hospitals. Its hospitals are tertiary care hospitals, which offer quaternary healthcare services.