On Wednesday’s trading session, the shares of a diagnostic service provider company surged 4.6 percent on BSE to Rs. 679.4, after the company signed an agreement to set up MRI Scan machines in Madhya Pradesh.
At 10:50 a.m., the shares of Krsnaa Diagnostics Limited were trading in the green at Rs. 672, up by 3.4 percent, as against its previous closing price of Rs. 649.6, with a market cap of Rs. 2,193.6 crores.
What’s the News:
Krsnaa Diagnostics Limited informed the stock exchanges about receiving the signed agreement from Madhya Pradesh Public Health Services Corporation Limited, Government of Madhya Pradesh.
Under the agreement, Krsnaa Diagnostics will set up, operate, manage, and maintain 1.5 Tesla Magnetic Resonance Imaging (MRI) diagnostic facilities at five government district hospitals of Madhya Pradesh namely Bhopal, Indore, Ujjain, Gwalior & Jabalpur respectively.
Previous News:
On 4th July, Bhabha Atomic Research Centre, Government of India awarded a tender to Krsnaa Diagnostics for providing Tele Reporting Services for Radiology at the BARC Hospital, Mumbai.
Financials:
The company experienced significant growth in its consolidated revenue from operations, showing a year-on-year rise of 25 percent from Rs. 133.2 crore in Q4 FY22-23 to Rs. 166.3 crore in Q4 FY23-24.
However, its net profit fell during the same period from Rs. 18.9 crore to Rs. 18.7 crore, indicating a decline of 1 percent YoY.
Further, on a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA grew from Rs. 35 crore in Q4 FY22-23 to Rs. 44.5 crore in Q4 FY23-24, representing a growth of 28 percent.
Stock performance:
The stock has delivered positive returns of nearly 50 percent in one year. However, the shares of Krsnaa Diagnostics have given negative returns of around 3 percent in the last six months as well as about 4 percent year-to-date.
About the company:
Incorporated in 2011, Krsnaa Diagnostics Limited offers a pan-India diagnostic facility and is engaged in the business of providing a wide range of radiology, pathology, and teleradiology services.
Written by Shivani Singh
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