Narayana Hrudayalaya Jumps The Most In Six Months As Q4 Profit, Revenue Beat Estimates

Shares of Narayana Hrudayalaya Ltd (NH). surged the most in more than six months after the company posted better-than-expected net profit and revenue in the fourth quarter ended March.

The net profit surged 1.5 times year-on-year to Rs 173 crore, 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 Hrudalaya (NH) Q4 FY23 (Consolidated, YoY)

  • Revenue 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 up 1.5 times to Rs 173 crore (Bloomberg estimate: Rs 157 crore)
  • The company will pay final dividend of Rs 2.50 per share for the fiscal 2023, with record date fixed as July 7. The board approved raising Rs 300 crore via non-convertible debentures.

The stock was trading up 7.37% at Rs 830.1 per share compared with a 0.51% gain in benchmark Nifty 50 as of 11:03 a.m.

Intraday, the stock climbed 10.72%- the most since Nov. 10, 2022.

Total traded quantity stood at 24.1 times the 30-day average volume. RSI (Relative strength index) stood at 71, indicating that the stock may be overbought.

Of the 10 analysts tracking the stock, eight maintained ‘buy’, one suggested ‘hold’ while one recommended ‘sell’, according to Bloomberg. The average of consensus price target implies a potential upside of 15.3% over the next 12 months.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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