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ICICI Direct Report
Hospitals are expected to maintain the growth momentum in Q3 FY22 with a marginal decline on a QoQ basis mainly due to the overheated Q2 FY22, which mainly benefited from pent-up demand from elective surgeries.
The hospital business saw a rebound in Q2 FY22 with patient visit resulting in higher occupancy and elective procedures commanding higher margins.
We expect this trend to continue in Q3 FY22 amid some marginal decline due to loss in Covid-19 revenue. We expect our hospital universe (three coverage companies) to post marginal 2.2% QoQ decline in revenue to Rs 7007.5 crore.
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