Hemas Holdings Group cumulative revenue tops Rs. 81 Bn

Hemas Holdings PLC delivered a commendable performance in the first nine months of the financial year 2023 with the Group posting a cumulative revenue of Rs. 81.7 billion, a 41.6 % growth over last year.

Despite the 51.5 per cent growth in Group operating profits, reported earnings for the period remained flat at Rs. 3.2 billion amidst the escalating interest rates.

“While the prolonged effects of the economic crisis continued to impact the operating dynamics and the consumption habits, the Group posted a revenue of Rs. 29.8 billion for the quarter, growth of 38.2 per cent over same period last year’” said CEO, Kasthuri Chelvaraja.

The Consumer Sector reported a 44.3 % growth in cumulative revenue to reach Rs. 32.5 billion for the first nine months of the year. The Sector reported a revenue of Rs. 13.6 billion for the quarter, supported by the improved performance of both the Home and Personal Care and Learning Segments.

The Healthcare Sector achieved a revenue of Rs. 15.8 billion for the quarter, a growth of 37.3 % over last year. Hospitals business recorded a double-digit growth in core revenue adjusted for COVID-19 related income. The Mobility sector posted a cumulative underlying operating profit of Rs 1.2 billion while the earnings remained flat at Rs. 655.1 million. Underlying revenue of the Sector increased by 5.8 per cent to Rs. 384.5 million during the quarter.

“‘Ongoing focus will be placed on strengthening the core portfolio while investing in research and development capabilities to cater to the ever-evolving needs of the customers.”