Revenue from operations Rs 992.6 crore in Q3 FY24 as compared with Rs 829.02 crore posted in corresponding quarter last year.
Profit before tax stood at Rs 8.23 crore in Q3 FY24, steeply higher than Rs 2.48 crore posted in Q3 FY23.
During the quarter, EBITDA jumped 54% to Rs 28.6 crore as compared with Rs 18.6 crore in Q3 FY23. EBITDA margin expanded by 64 bps to 2.9% in Q3 FY24 as against 2.2% in Q3 FY23.
Meanwhile, the company will acquire balance 12,00,000 equity shares (representing 15% paid up equity share capital) from erstwhile promoters of Getwell Medicare Solution Private and thereby making Getwell a wholly-owned subsidiary of the company.
The company will acquire 15% stake for total consideration of Rs 120 crore.
Prabhat Agrawal, promoter, managing director and CEO, said, “delivering strong results as we capitalize on the differentiated value proposition that we bring to our customers as well healthcare product companies in this extremely fragmented supply chain market.
As we look ahead to the rest of our fiscal year, we are focused on executing on our growth levers and capturing multiple opportunities through our wide geographic network, technology driven approach and strong execution team.
With our current robust balance sheet post IPO we are well-positioned to expand our business, capitalize on future growth opportunities and continue to add value to the entire healthcare ecosystem. We are confident that our experienced and capable management team, coupled with our differentiated business model and robust strategies, will drive sustainable growth and create long-term value for our shareholders."
The shares of Entero Healthcare Solutions were listed on bourses at Rs 1,245, exhibiting a discount of 1.03% to the issue price of Rs 1,258.
Entero Healthcare Solutions is a distributor of healthcare products in India. The company‘s technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.