Net sales during the quarter declined by 26.9% year-on-year (YoY) to Rs 600.73 crore. EBITDA slumped 71% to Rs 37.20 crore in Q2 FY 21 from Rs 128.10 crore in Q2 FY20.

Pre-tax loss in Q2 September 2020 stood at Rs 29.54 crore as against a pre-tax profit of Rs 62.17 crore in the same period last year.

Commenting on the performance, Dr. Emmanuel Rupert, managing director and group CEO, Narayana Hrudayalaya, said "As expected, localized lockdowns affected patient footfalls leading to a rather gradual recovery for most part of the quarter gone by. However, we are encouraged by the momentum generated in the month of September with monthly consolidated revenues reaching approximately 90% of pre-COVID (February 2020) levels.

Flagship facilities across Bengaluru and Kolkata continued to remain impacted given their pre-eminence in the cardiac sciences based elective domain as well as higher reliance on out-of-station domestic and international patients. However, units at Delhi NCR and hinterland regions continue to demonstrate robust traction. The facility at Cayman Islands closed yet another quarter with the highest ever quarterly revenues.

Going forward, notwithstanding a fresh wave of the pandemic as is being witnessed across in certain parts of the world, as we progress towards normalcy with improving sentiments, we are expecting a faster recovery as patients' mobility improves both at domestic and international fronts."

As on 30 September 2020, the consolidated net debt was Rs 553.90 crore, representing a net debt to equity ratio of 0.55. (Out of which, debt worth $44.5 million is foreign currency denominated).

Narayana Hrudayalaya operates a chain of multispecialty, tertiary and primary healthcare facilities. The company has a network of 21 hospitals and 5 heart centres across India and single hospital at Cayman Islands and a heart centre at Chittagong, Bangladesh with over 5,900 operational beds across all its centres and potential to reach a capacity of over 6,600 beds.