Total expenses rose by 9.9% YoY to Rs 259.80 crore in the third quarter, primarily due to higher Professional fees to doctors (up 4.8% YoY), higher Other expenses (up 15.3% YoY) and higher employee expenses (up 13% YoY).

Profit before tax in Q3 FY24 stood at Rs 84.76 crore, up by 8.2% from Rs 78.31 crore in Q3 FY23.

For the October – December 2023 quarter, capacity beds were at 1,655 units (up 6% YoY), operational bed count was 1,290 units and occupancy rate was 50.8% (down 630 bps YoY).

Average revenue per occupied bed (ARPOB) was Rs 55,768 (up 14% YoY) and average length of stay (ALOS) was 2.63 days (down 5% YoY) in Q3 FY24.

Rainbow Children’s Medicare said that the company recorded its highest ever Revenue and EBIDTA despite the continued seasonal headwinds. The effect of lower than expected rainfalls and subsequent irregular seasonal variations had an impact on the patient footfalls and occupancy in the current quarter as compared to the same period last year, which was marked with higher footfalls and inpatient admissions as children continued to adapt in post COVID environment.

The operations at hospitals based in Chennai, Vijayawada and Vizag were affected for 10-15 days during the quarter due to cyclone Michaung which had a devastating impact in parts of Tamil Nadu and Andhra Pradesh.

The company commissioned it’s eight hospital in Hyderabad with 60 beds at Central Hyderabad, Himayat Nagar. This step has further strengthened company’s Hub and Spoke network with combined 890 beds at Hyderabad.

The company intends to add 280 beds during the current financial year. In the coming two months of the current financial year, it will commission two new hospitals and an additional block at an existing hospital during this time.

Rainbow Children's Medicare is a multi-specialty pediatric, obstetrics and gynecology hospital chain in India, operating 16 hospitals and 3 clinics in 6 cities, with a total bed capacity of 1,655 beds.

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