Bengaluru, 17th February, 2025 HealthCare Global Enterprises Limited (“HCG”), the leader in India in speciality healthcare services focused on oncology and fertility announced its unaudited financial results for the quarter (“Q3”) and nine months ended December 31st 2024.
Highlights for quarter ended December 31st, 2024
- Consolidated Income from Operations (“Revenue”) was INR 5,586 mn as compared to INR 4,699 mn in the corresponding quarter of the previous year, reflecting a year-on-year growth of 19%
- Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Adjusted EBITDA”) was INR 923 mn, as compared to INR 804 mn in the corresponding quarter of the previous year, a growth of 15% year-on-year
- Consolidated Profit Before Other Income, Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Reported EBITDA”), was INR 884 mn, as compared to INR 786 mn in the corresponding quarter of the previous year, a growth of 12% year-on-year
- EBITDA for Established centers was INR 1,057 mn, a growth of 14% year-on-year
- EBITDA from Emerging centers was INR 33 mn, as compared to INR 20 mn in the corresponding quarter of the previous year
- Consolidated Profit after Taxes and Minority Interest (“PAT”) of INR 70 mn, as compared to INR 57 mn in the corresponding quarter of the previous year, growing by 23% year-on-year
Business Updates for Q3FY25
- Overall ARPOB stood at Rs. 44,284 vs. Rs. 42,788 in Q3FY24, a growth of 3.5%
- Overall AOR stood at 62.1% vs. 59.8% in Q3FY24
- RoCE (9MFY25 Annualized)
- RoCE for Established centers stood at 13.7% vs. 14.4% in Q3FY24. RoCE pre-corporate allocations stands at 17.5%
- RoCE for Emerging centers stood at -10.0% vs. -14.4% in Q3FY24. RoCE pre-corporate allocations stands at -6.2%
- Several regions delivered high double-digit revenue growth on YoY basis
- Markets like Kolkata and Nashik grew by 40% and 29% YoY respectively
- Nagpur, South Mumbai grew by 28% & Ahmedabad grew by 26% YoY respectively
- Clinical Achievements
- First CAR-T cell therapy completed successfully done at HCG Jaipur
- Successful completion of first course on Managing Tumours of Infratemporal Fossa in HCG Aastha Cancer Centre, Ahmedabad
- Best Oral Presentation by Dr Yash Jain, Department of Nuclear Medicine, at ARCCNM conference in Seoul, South Korea
- Dr Indoo Ammbulkar from HCG Borivali had authored the chapter on Leukaemia in the textbook of Principles and Practices of Geriatric Medicine 2025
- Dr Trinanjan Basu from HCG Borivali has published in the International Geriatric Radiotherapy Group publications titled “SBRT + Immunotherapy in Geriatric Cohorts”
- Head and Neck Oncology Department of HCG Aastha Cancer Center and HCG Bangalore along with Department of Molecular Genomics Completed Thyropredict trial is completed.
- Novel Yittrium Radiogel study commences with recruitment of first five patients
Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd. said, “HCG has been at the forefront of cancer care, pioneering innovative approaches that integrate multi-disciplinary expertise, advanced molecular and genetic diagnostics, and a hub and-spoke patient outreach model. These efforts enable us to deliver highly personalized care, and our strong performance stands as a testament to these strategies. Guided by our vision of making cancer care accessible and affordable, we are committed to reaching over 50% of cancer patients in India through our unique hub-and-spoke model. In addition to our existing Centers of Excellence in Bangalore, Mumbai, Ahmedabad, and Kolkata, we are expanding our footprint by establishing multiple CoEs in Cuttack and Odisha.
Unlike traditional multispecialty hospitals, HCG has demonstrated that sustainable, worldclass cancer care outcomes—comparable to or even surpassing those of premier Western centers—are achievable when patients receive the right treatment at the right time, supported by top-tier talent, cutting-edge technology, and state-of-the-art infrastructure. Beyond delivering exceptional care, we have fostered a culture of innovation at every level, prioritizing actionable research, skill enhancement, and continuous learning through our medical and fellowship programs.
Looking ahead, we envision a future shaped by rapid advancements in genomics, proteomics, and metabolomics—transformative fields that will refine cancer staging and grading while enabling the development of more effective, sustainable therapies. As we continue to push the boundaries of value-based cancer care, our commitment remains unwavering: to redefine cancer treatment and improve patient outcomes on a national scale.”
Mr. Raj Gore, CEO HealthCare Global Enterprises Ltd., added, ““We are proud to announce highest ever quarterly revenues of Rs 558 crores with a robust growth of 19% and EBITDA standing at Rs 87 crores with a growth of 11% compared to same period last year. Despite being a seasonally weaker quarter, we are proud to have achieved this performance on the basis of improving volumes across modalities. The Oncology business post MG hospital acquisition grew by 24%. Our emerging centers continue to perform well, Kolkata center grew by 40% and South Bombay center grew by 28%. South Bombay center witnessed strong performance despite challenges in international business, which we expect to recover by the upcoming quarter and will be key for the center’s turnaround. We are confident of the robust growth in these centers with improving performance on the back of strong brand creation, quality clinical talent and increased awareness programs for cancer care and diagnosis.
During the quarter, we consolidated operations for MG hospital in Vizag. This acquisition has been instrumental in enhancing our footprint in the region, allowing us to further expand our services and strengthen our presence in one of the key markets for cancer care.
At HCG, we believe that world-class cancer care should be patient-centric, accessible, and sustainable. Our asset-light model enables us to expand efficiently, ensuring that cutting-edge treatment reaches more people without compromising quality. By integrating advanced technology, precision medicine, and compassionate care, we are not just treating cancer, we are redefining the patient experience. As we continue this journey, our focus remains on empowering patients with the best possible outcomes while driving innovation and transforming cancer care across India.”