Islamabad: Shifa International Hospitals Ltd. has reported a substantial increase in profit for the first quarter ending September 30, 2024. The Islamabad-based healthcare provider announced that its net profit surged to Rs 628.67 million, up from Rs 393.54 million in the same quarter the previous year.

In a recent communication with the Pakistan Stock Exchange (PSX), the company detailed its financial performance, revealing that the total revenue rose to Rs 7.06 billion in the third quarter, a notable increase from Rs 5.94 billion reported in September 2023. This growth was accompanied by a rise in other income, contributing Rs 44.94 million, though slightly lower than last year’s Rs 55.33 million.

Operating costs and finance costs were the major expenses, amounting to Rs 5.95 billion and Rs 98.92 million respectively. Despite these expenses, Shifa International managed a robust bottom line, supported by effective cost management and a strategic focus on service expansion.

According to information available from the Pakistan Stock Exchange (PSX), the board of directors of Shifa International Hospitals has opted for a nil cash dividend, as revealed in their latest board meeting held on October 26, 2024. The decision reflects a reinvestment strategy aimed at sustaining growth amid expanding operational scopes.

The earnings per share (EPS) also saw an upward trajectory, reaching Rs 9.95, a significant rise from the Rs 6.23 recorded in the corresponding quarter of the previous year. This performance metric underscores the company's enhanced profitability and operational efficiency.