New Delhi: The stock market is seeing strong gains on the first day of the trading week. Meanwhile, the stock of hospital sector company Park Medi World Ltd. is on investors’ radar.
The company announced in a filing on Sunday, August 2, that it has expanded its presence in Uttarakhand with the opening of The Medicity Hospital, Rudrapur. The company stated that this 330-bed multi-super specialty hospital is the largest in the Kumaon region.
Following this, the company’s stock was trading at Rs 298.70, up 2.07 percent or Rs 6.05 on the NSE, and at Rs 298.30, up 1.67 percent or Rs 4.90 on the BSE at the time of writing the report.
With this, Park Group now offers services in six states across northern India. The company says this expansion is part of its long-term growth strategy, which focuses on building a strong regional network, an efficient referral system, and sustainable business growth.
According to the filing, the new hospital features modern medical infrastructure, multiple specialty departments, and a team of expert doctors affiliated with leading medical institutions in the country. The hospital will provide patients with evidence-based treatment, advanced technology, and patient-centered healthcare. The company believes this will meet the growing demand for healthcare services in Kumaon and surrounding areas and significantly increase the group’s revenue and profits in the coming years.
Dr. Ankit Gupta, Managing Director of the company, stated that the opening of ‘The Medicity Hospital, Rudrapur’ marks a major step in the company’s aggressive expansion strategy. According to him, with the opening of this hospital, Park Hospital has established a comprehensive and modern healthcare centre for the entire Kumaon region. He added that the hospital offers state-of-the-art medical infrastructure, numerous super-specialty services, and a team of experienced specialist doctors all under one roof.
Meanwhile, the healthcare company announced its unaudited standalone Q1FY27 results. The company’s quarterly revenue stood at Rs 475.70 crore, logging 19% YoY growth. It reported a quarterly EBITDA of around Rs 126 crore, registering 20 percent YoY growth, an EBITDA margin of 26.5%, and a 20 bps YoY expansion. The company’s net profit stood at Rs 88.60 crore, recording 35% YoY growth, with a net profit margin of 18.6% and an expansion of 220 bps YoY.