Narayana Hrudayalaya Shares Surge The Most In Over Six Months On Q4 Beat
The net profit surged 1.5 times year-on-year to Rs 173 crore, as compared with a Bloomberg estimate of Rs 157 crore.
Shares of Narayana Hrudayalaya Ltd. surged the most in more than six months after its fourth-quarter profit beat analysts' estimates.
The net profit surged 1.5 times year-on-year to Rs 173 crore in the quarter ended March, compared to a Bloomberg estimate of Rs 157 crore, according to an exchange filing. Revenue gained 30% to Rs 1,222 crore, compared to a Bloomberg estimate of Rs 1,116 crore.
Narayana Hrudayalaya Q4 FY23 (Consolidated, YoY)
Revenue is up 30% at Rs 1,222 crore (Bloomberg estimate: Rs 1,116 crore).
Ebitda up 58% to Rs 276 crore (Bloomberg estimate: Rs 258 crore).
Ebitda margin at 22.6% vs. 18.6% (Bloomberg estimate: 23.1%)
Net profit is up 1.5 times to Rs 173 crore (Bloomberg estimate: Rs 157 crore).
The company will pay a final dividend of Rs 2.50 per share for the fiscal 2023, with the record date fixed as July 7. The board approved raising Rs 300 crore via non-convertible debentures.
Shares of the company surged 7.53% to close at Rs 831.35 apiece, as compared with a 0.61% gain in the benchmark Nifty 50. Intraday, the stock climbed 10.72%, the most since Nov. 10, 2022.
The total traded quantity stood at 13.8 times the 30-day average volume. The relative strength index stood at 71, indicating that the stock may be overbought.
Of the 10 analysts tracking the stock, eight maintain a 'buy', one suggests a 'hold," and one recommends a 'sell', according to Bloomberg. The average 12-month consensus price target implies a potential upside of 15.1%.