Significant increase in Nawaloka Hospitals revenue, profit

Growing patient numbers, medical investigations and pharmacy sales have significantly increased Group Revenue and Group Net Profit for Sri Lankan private healthcare pioneer Nawaloka Hospitals PLC.

In Nawaloka Hospitals most recent interim financial statement filed with the Colombo Stock Exchange, for the three months to end-June 2012, the hospital showed a group revenue of Rs. 1.05 billion, up from Rs. 805.12 million for the same period last year, while its Group Net Profit was Rs. 98.04 million, rising from Rs. 2.18 million previously.

On the other hand, while group revenue rose over the abovementioned period, the first quarter of the hospital’s 2012/2013 financial year, Group Cost of Sales fell to Rs. 525.81 million, from Rs. 438.47 million for the corresponding period the year before.

In addition, Group Operating Profit went up to Rs. 142.58 million, compared to Rs. 30.83 million prior, with Group Earnings per Share also climbing to Rs. 0.28, from its previous Rs. 0.006, and Group Net Assets per Share rising to Rs. 2.32, up from Rs. 2.11.

At the same time, Nawaloka Hospitals has already made known its plans to upgrade in-house facilities, including rooms, while also adding 50 new consultation rooms and a multi-storey car park. Further, operating theatres have been improved with more modern instruments such as a holmium laser for urology procedures and a high-definition laparoscopy system as well as ceiling mounted LED theatre lamps, higher grade anaesthesia units, etc. In addition, digital imaging facilities have been updated with the acquisition of Digital X-ray units and four-dimensional (4D) digital ultrasound scanners, all of which cost the hospital in excess of Rs. 120 million. With more than 400 beds and 600 visiting consultants, Nawaloka Hospitals comprises the largest local private hospital in terms of beds in a single location, which is also the country’s first private healthcare institution, opened in 1985. Responsible for the well-being of over 1.5 million patients over the financial year to end-March 2012 alone, during which it also carried out close to 15,000 surgeries, Nawaloka Hospitals also has plans to open two more 50-bed hospitals outside of Colombo over the coming months.