Lanka Hospitals Corp. boosts 1H after tax profit by 140% to Rs. 2.7 b

Wednesday, 31 August 2022 00:00 - - {{hitsCtrl.values.hits}}

Group Chairman Vidya Jyothi Dr. Bandula Wijesiriwardena

Group CEO Deepthi Lokuarachchi

The Lanka Hospitals Corporation PLC has posted a PAT of Rs. 2.7 billion for the six months that ended on 30 June 2022, further consolidating its strong balance sheet.

During this period, Lanka Hospitals also recorded a gross turnover of Rs. 5.25 billion amidst tight market conditions and recorded an operating profit of Rs. 801 million.

Together with operating profit, investment income and exchange gains, Lanka Hospitals has reported a strong financial position reflecting a profit growth of 140% compared to the corresponding period of the previous year. The company’s per share earnings have increased up to Rs. 12.37 compared to Rs. 5.15 recorded in the previous year.

Lanka Hospitals Group Chairman Vidya Jyothi Dr. Bandula Wijesiriwardena said: “The second quarter of 2022 was a period where unprecedented challenges were encountered by the two companies in the group. Despite these economic conditions, I am happy to share that Lanka Hospitals recorded a strong growth in terms of revenue and profitability. The company has announced an interim dividend of Rs. 2 per share to our shareholders and allocated Rs. 447 million for the half year that ended on 30 June 2022. This has been the highest interim dividend declared by the company to our shareholders.”

Group CEO Deepthi Lokuarachchi said: “In the second quarter of 2022, the company had to incur high costs for medical consumable purchases. During this time, Lanka Hospitals offered healthcare services to the general public at affordable costs despite the economic situation.” He further stated, “Many initiatives were taken to ensure the quality of life of staff and that their continuous contribution is key to the success of LHC Group.”

This year Lanka Hospitals was named the Most Awarded and the Most Loved Healthcare Brand in Sri Lanka by LMD and Brands Finance. Lanka Hospitals is the first hospital in Sri Lanka to receive the most prestigious global accreditations for its healthcare service standards including the Joint Commission International (JCI) accreditation 7th edition and the world-respected Medical Tourism Certification from Medical Travel Quality Alliance (MTQUA). Furthermore, Lanka Hospitals Diagnostics Ltd. (LHD) is the only Sri Lankan laboratory to be accredited by the esteemed laboratory accreditation body, The College of American Pathologists (CAP).