Shifa International Hospital (PSX: SHFA) has announced on Monday its nine-month result for the financial year 2016 and once again it has given a stunning performance. The Islamabad-based hospital which is the only Pakistani healthcare provider that has a presence on the stock market has outperformed the markets expectations with 56 percent year-over-year (YoY) growth in its nine month earnings.
The hospital ended the period under discussion with 20 percent YoY growth in its net revenue. The revenue increase was broad based; from higher patient visits, increase in the number of surgeries and improve performance by pharmacies and lab pick-up points. Higher revenue helped beef up earnings. The operating cost for the nine-month period has gone up primarily due to higher utility cost. Besides this according to hospital sources, the prices of medicines and supplies along with wages and salaries have also gone up.
However, the hospital has seen its other operating income increase quite significantly during the period under review. Shifa has provided a new direction for the domestic health care sector. In recent years, it has diversified further and become one of the biggest private healthcare providers in the country.
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