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| Wednesday, 19 January 2005 |
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Nawaloka Hospital net profit up 150% to Rs. 98 m The Nawaloka Hospital has earned a net profit of Rs. 98 million for the first nine months of 2004/2005 when compared to the Rs. 39 million profit earned in the same period of 2003/2004. This has resulted in an increase in the net profit by Rs. 59 million. This is a 150% increase compared to the corresponding period in 2003/2004. Reduction in the finance cost by 44% (Rs. 33 million) is one of the main factors for the growth of the net profit in the nine-month period ended December 31, 2004/2005. Rs. 1 Billion turnover in nine months The Hospital was able to reach Rs. 1 billion turnover for the nine months during the 19 years history of the hospital. This is due to the 23% increase in income by Rs. 206 million in the nine months period in 2004/2005 compared to the corresponding period in 2003/2004. The hospital has improved its liquidity position in the nine-month period of 2004/2005 to 2:1 compared to the liquidity of 1:1 in the nine-month period of 2003/2004. The hospital was able to maintain the same earning per share of 0.34 even after the increase of share capital by 50% during nine months in 2004/2005. Net assets per share has increased to Rs. 2.39 per share from Rs. 2.33 per share in 2004/2005 when compared to the period in 2003/2004. |
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