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Shares of Global Health, also known as Medanta, surged approximately 9% over the past two trading sessions. Moreover, the stock has experienced a notable 39% increase in one month, a significant 102% rise over the last six months, and an impressive surge of 176% over the past year.
On the technical front, the stock's daily RSI (relative strength index) stood at 72.74. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1078.49, 953.38 and 803.87, respectively. These levels will act as crucial support zones in near term.
Global Health is one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India.
On a consolidated basis, the company's profit after tax grew by 53% y-o-y to Rs 123.5 crore in Q3 FY24. Total income grew by 21% y-o-y to Rs 854.5 crore in Q3 FY24. EBITDA grew by 36% y-o-y to Rs 234 crore in Q3 FY24. EBITDA margins improved by 305 bps from 24.3% in Q3 FY23 to 27.4% in Q3 FY24.
Average Occupied bed days increased by 15% y-o-y, representing an average occupancy of 64% in Q3 FY24. In-patients count increased by 13% y-o-y and Out-patient count increased by 20% y-o-y in Q3FY24. Average Revenue Per Occupied Bed (ARPOB) grew by 4% y-o-y to Rs 60,571 primarily driven by increase in realisation at the Gurugram unit.
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