During the quarter, the company's revenue from healthcare services segment rose 25.62% YoY to Rs 223.33 crore while its revenue from its business of manufacturing implants fell 39% YoY to Rs 14.64 crore. The healthcare services segment includes business of setting up and managing hospitals and medical diagnostics services.

Total expenses rose 12.5% to Rs 185.26 crore in Q2 FY24 over Q2 FY23. During the quarter, operative expense stood at Rs 110.05 crore (down 16% YoY) while employee benefits expense was at Rs 38.56 crore (up 14.5% YoY).

Net cash flow from operating activities stood at Rs 95.14 crore as on 30 September 2023, lower than Rs 141.97 crore as on 31 March 2023.

Shalby is the largest chain of multi-specialty hospitals in Western and Central India. It was founded by arthroplasty specialist, Dr. Vikram Shah. It performs more than 14,000 joint replacement surgeries a year and in the last 29 years has performed more than 1,45,000 joint replacements. It operates under three main verticals, namely, hospital business, Shalby Orthopedics Centre of Excellence (SOCE) franchise and implant business.