KIMS · Healthcare
Krishna Institute of Medical Sciences Ltd. reported revenue of ₹797 cr for January to March 2025, +25.7% on the year and +3.2% on the quarter. It is the highest quarterly revenue in the last 8 quarters on record. Over the last four quarters revenue comes to ₹3,034 cr, +21.5% on the four before.
Operating profit (EBITDA) was ₹198 cr, a margin of 24.8%, −24 bps on the year and +62 bps on the quarter. Over the last 8 quarters the margin has ranged from 24.2% to 28.1%, averaging 25.7%. Operating costs grew +26.1%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹106 cr, +47.2% on the year and +15.2% on the quarter, with earnings per share of ₹2.54. Profit before other income, one-offs and tax grew 24.0%, so 23 points of the headline growth came from outside the core business. The tax rate was 21% against an average of 27% over the previous 7 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹414 cr, +22.8% on the four before.
On earnings per share of ₹9.60 over the last four quarters, the stock at ₹727.55 trades at 75.8 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Headline profit grew much faster than core profit. What made up the difference?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹606 cr | ₹634 cr | ₹688 cr | ₹777 cr | ₹772 cr | ₹797 cr | ₹872 cr | ₹961 cr | ₹998 cr | ₹1,075 cr | ₹1,180 cr | ₹1,344 cr |
| YoY | — | — | +14% | +19% | +27% | +26% | +27% | +24% | +29% | +35% | +35% | +40% |
| EBITDA margin | 24.3% | 25.1% | 26.0% | 28.1% | 24.2% | 24.8% | 22.1% | 21.2% | 19.9% | 19.2% | 18.9% | 19.3% |
| Other income, % of PBT | 3% | 4% | 4% | 3% | 13% | 11% | 6% | 4% | 7% | 2% | 30% | 30% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 28% | 25% | 26% | 31% | 21% | 25% | 26% | 24% | 40% | 34% | 29% |
| Net profit | ₹77.0 cr | ₹72.0 cr | ₹95.0 cr | ₹121 cr | ₹92.0 cr | ₹106 cr | ₹85.0 cr | ₹72.0 cr | ₹52.0 cr | ₹33.0 cr | ₹37.0 cr | ₹75.0 cr |
| YoY | — | — | +9% | +20% | +19% | +47% | −11% | −40% | −43% | −69% | −56% | +4% |
| Core profit YoY | — | — | +5% | +15% | +18% | +24% | −12% | −41% | −45% | −55% | −63% | −20% |
| EPS | ₹1.80 | ₹1.64 | ₹2.16 | ₹2.68 | ₹2.22 | ₹2.54 | ₹1.96 | ₹1.67 | ₹1.33 | ₹1.06 | ₹0.99 | ₹1.79 |
| Flags | · | · | ✓ | ✓ | ✓ | 1 | 2 | 2 | 2 | 2 | 2 | 3 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Krishna Institute of Medical Sciences Ltd. reported revenue of ₹797 cr (+25.7% on the year) and net profit of ₹106 cr (+47.2% on the year) for January to March 2025.
Profit before other income, exceptional items and tax moved +24.0% on the year, against +47.2% for reported profit.
1 check raised a question: Headline profit grew much faster than core profit. What made up the difference?
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