Paras Healthcare posts ₹40.35cr Q2 net profit in debut results
Business
Paras Healthcare just posted its first results since going public, and the numbers are impressive: a net profit of ₹40.35 crore for the second quarter, up 226% from last year's ₹12.38 crore.
Revenue hit ₹510.89 crore, with expenses at ₹463.12 crore, showing strong growth right out of the gate.
Paras uses ₹375cr to repay debt
After raising ₹500 crore in its October IPO, Paras used most of that, ₹375 crore, to pay down debt and boost financial health.
Managing director Dharminder Kumar Nagar shared plans to expand specialty care across Northern India, focusing on areas like oncology and cardiac care.
Investors seem happy too: shares jumped 2.99% higher, closing at ₹774.35 after the results were announced.