Shalby shares drop as Q1 net profit falls 20%

8 Jul 2024 , 05:06 PM

Shares of Shalby dropped nearly 6% after the company’s Q1 FY25 consolidated net profit decreased by over 20% to ₹16.6 Crore, compared to ₹20.8 Crore in the same period last year.

At the time of writing on July 8, 2024 shares of Shalby closed at ₹297 which is a 4.35% dip than the previous close. Despite the recent dip, the company’s shares have gained 67% in the past year, outperforming the Nifty 50’s 25% gain.

The decline in net profit was due to total expenses rising faster than revenue for the quarter ended June. Shalby’s Q1 FY25 revenue from operations increased by over 18% year-on-year to ₹278.89 Crore from ₹235.48 Crore. However, total expenses for the quarter rose nearly 25% year-on-year to ₹258.2 Crore.

Shalby is a major player in India’s healthcare sector, operating a network of multispecialty hospitals. The company offers extensive tertiary and quaternary healthcare services, specializing in orthopedics, joint replacements, cardiology, neurology, oncology, and renal transplants.

Shalby is recognized globally as a leader in knee replacement surgery and is among the top hospitals in India for joint replacement procedures.