Profit before tax was at Rs 12.35 crore in the third quarter of FY25, down 59.9% from Rs 30.81 crore posted in the same period a year ago. The company’s consolidated EBITDA for Q3 FY25 was Rs 39.3 crore.

During the quarter, the company’s revenue from the healthcare services segment grew by 27.9% YoY to Rs 248.85 crore, while revenue from its implant manufacturing business increased by 24.4% YoY to Rs 26.77 crore.

In Q3 FY25, the company had 646 occupied beds, with an inpatient count (including Day Care) of 22,369, reflecting a 7.9 YoY growth. The average revenue per occupied bed (ARPOB) stood at Rs 42,704, marking a 14.4% YoY increase.

Shanay Shah, President, Shalby, said, “The company has shown a decent consolidated performance in Q3’FY25 with a revenue of 281 crore with growth of 27.4% on y-o-y basis. The major growth has been contributed from our implant business and acquisition of Delhi NCR hospital in current calendar year.

I'm pleased to announce that our hospital segment has maintained consistent performance across key operational metrics, witnessing a 7.9% rise in In-patient count (including day care) year-on-year in Q3 FY25. Notably, ARPOB and ALOS stood at Rs 42,704 and 3.62 respectively, in Q3 FY25, compared to Rs. 37,342 and 3.79 in the corresponding quarter of the previous year improved by 14.4% and 4.5% respectively. Our core specialties, including arthroplasty, onco-science, cardiac science, orthopaedics, critical care & general medicine, and neurology, collectively contributed 80% to the revenues in Q3 FY25.

On a standalone performance, our revenue has grown by 13.3% to Rs 227 crore and EBITDA has grown marginally by 0.8% to Rs 48.8 crore with the EBITDA margin of 21.5% on YoY basis.

Furthermore, our realized return on capital employed from the hospital business stood at 15% in Q3’FY25 on an annualized basis. As of the quarter's close, our net debt balance at the group level amounted to Rs 2,667 million, with a net cash balance of Rs 660 million at the standalone level, reinforcing our ability to support strategic growth initiatives.

In January'25, Shalby Bone and Tissue Bank has been successfully inaugurated by our Hon’ble Union Home Minister of India, Shri Amit Shah, at our Krishna Shalby Hospital in Ahmedabad. Shalby has continued to achieve numerous milestones driven by clinical excellence and patient satisfaction, and we take pride in making a positive impact on people's lives.”

Deepak Anand, global chief business officer, Shalby, said, During the third quarter of this financial year, our implant business made significant progress, generating revenues of Rs 269 million up by 25% YOY, with contributions from the USA and OUS at 33% and 67% respectively.

We are actively focused on bolstering our team with skilled professionals, transitioning our sales mix to retail customers from wholesale, enhancing operational capacity and efficiency, expanding our product pipeline through extensive research and development efforts, and significantly reducing procurement costs. The reception of our Shalby Advanced Technology implants in hospitals across all markets that we have launched has been highly positive, and we have received additional orders from the South Asian market. Our strategic clinical trial agreement with Monogram Technology will also benefit SAT Inc. in expanding and growing internationally in other countries.

With our key strategies firmly in place, our team is fully dedicated to executing these plans flawlessly. Shalby is well-positioned to achieve double-digit growth with sustainable profitability while also expanding and deepening our presence by opening up new geographies. These efforts will ultimately drive the creation of sustainable value for all stakeholders at Shalby.”

Meanwhile, the company’s board has approved the re-appointment of Dr. Vikram Shah as chairman and managing director of the company, based on the recommendation of the Nomination and Remuneration Committee and subject to the approval of shareholders.

Shalby is the largest chain of multi-specialty hospitals in Western and Central India. It was founded by arthroplasty specialist, Dr. Vikram Shah. It performs more than 14,000 joint replacement surgeries a year and in the last 29 years, has performed more than 1,75,000 joint replacements. It operates under three main verticals, namely, hospital business, Shalby Orthopedics Centre of Excellence (SOCE) franchise and implant business.