Rainbow Children’s Medicare, an Ashish Kacholia Portfolio stock, climbed 12.26% during early trades on Friday, on the back of good quarterly results. The company’s shares were trading at ₹ 811.05 apiece at 11:30 AM. They closed at 723.25 apiece on Thursday.
Rainbow Children’s Medicare operates a multi-speciality paediatric, obstetrics, and gynaecology hospital chain in India. The company had a muted listing in May this year, after receiving a tepid response from non-institutional buyers and retail investors. The stock got listed at ₹ 510.00 apiece, against an issue price of ₹ 542.00 on the National Stock Exchange (NSE). However, its share price has surged by a whopping 59% since its listing.
Ace investor Ashish Kacholia bought a 1.0% stake in the company during the September quarter (Q2FY23), according to the shareholding pattern filed by the company. He has 10,44,211 shares in the company and his holdings are worth ₹ 84.6 crores. Fondly called the ‘Big Whale’ by the media, Ashish Kacholia publicly holds 41 stocks with a net worth of over 1922.2 Crores.
The Hyderabad-based hospital chain reported robust operational and financial performance during the second quarter and the first half of the current fiscal year. Strong growth was witnessed in occupancy, outpatient & inpatient volumes, and other key metrics across hospitals in every geography. Therefore the company has y delivered its best-ever quarterly Revenue, EBITDA and PAT numbers.
The hospital chain reported that its profit for the period grew 36% year on year (YoY) to ₹ 61.50 crores in September 2022, as against ₹ 45.34 crores in September 2021. Further, its revenue grew 59% quarter on quarter (QoQ) from ₹ 38.76 crores in June 2022. Its total income increased 18% YoY to ₹ 320.61 crores in September 2022 from ₹ 271.10 crores in June 2022.
Written by Simran Bafna
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