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Nawaloka Hospitals 1Q16 profit up 23% amid improved top line performance

21 August 2015 06:18 am - 0     - {{hitsCtrl.values.hits}}


Leading private healthcare institution Nawaloka Hospitals PLC saw its June net profit (1Q16) increasing 23 percent year-on-year (yoy) amid better top line performance. 
Accordingly, earnings per share edged up to Rs.0.04 from Rs.0.03 yoy.
Revenue increased to Rs.1.36 billion from Rs.1.06 billion yoy, while cost of services increased to Rs.673.83 million from Rs.542.69 million yoy. 
Gross profits rose to Rs.688.31 million from Rs.515.15 million yoy.

Total equity increased slightly to Rs.3.95 billion from Rs.3.89 billion in 4Q15 through retained earnings, while long and short-term borrowings increased to Rs.1.76 billion from Rs.1.62 billion and the bank overdraft increased to Rs.721.99 million from Rs.642.89 million in the same period.

Group Chairman/CEO H. K. J Dharmadasa owns 32.69 percent of the shares directly and 31.34 percent of the shares through Nawaloka Construction Company Limited, while Dr. T Senthilverl owns 21.86 percent of the company shares.

Staff costs increased to Rs.277.09 million from Rs.225.79 million yoy and administrative expenses went up to Rs.254.88 million from Rs.196.98 million yoy, while finance cost increased to Rs.92.86 million from Rs.59.47 million yoy due to increased loans and overdrafts.
The asset base of the group grew to Rs.8.95 billion from Rs.8.65 billion in 4Q15. 

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