Lanka Hospitals kicks off FY23 with strong growth

Friday, 10 June 2022 01:04 - - {{hitsCtrl.values.hits}}

Group Chairman Vidya Jyothi Dr. Bandula Wijesiriwardena

Group CEO Deepthi Lokuarachchi

The Lanka Hospitals Corporation PLC, the internationally accredited, multiple award-winning healthcare provider concluded yet another successful quarter by recording strong performance with an impressive growth in its turnover and further strengthening the group’s financial position in the quarter ended 31 March.

The hospital group recorded Rs. 2.8 billion in turnover compared to Rs. 2.2 billion recorded in the first quarter of the previous year. This reflects a 27% growth on the top line in a tightly competitive market amidst many challenges.

In the company’s announcement to the stock exchange, it stated that the company has recorded a PAT of Rs. 1.5 billion, inclusive of an operational profit of Rs. 550 million and Rs. 1.1 billion in finance income and exchange gains. The increase in operational profit reflects a 52% profit growth in 2022 relative to the profit reported in the same period in 2021. The group’s net assets have grown by Rs. 1.4 billion within the first quarter of 2022.

Lanka Hospitals Group Chairman Vidya Jyothi Dr. Bandula Wijesiriwardena commenting on the company’s performance stated: “I am very pleased with the continued performance of the company, and I am confident that the Lanka Hospitals Group will employ all measures necessary to provide healthcare services to the general public at an affordable cost.”

Group Chief Executive Deepthi Lokuarachchi stated that: “A clear management focus, and the untiring efforts of consultants, medical, non-medical and laboratory staff of the hospital group paved the way for this excellence in performance. Service quality differentiation will be the key driver in positioning the hospital as the most esteemed hospital in the private hospital industry.”

This year Lanka Hospitals was named the Most Awarded and the Most Loved Healthcare Brand in Sri Lanka by LMD and Brands Finance.