GPT Healthcare shares surge 10% after strong Q3FY24 results

After GPT Healthcare announced its strong Q3FY24 results and the declaration of its second interim dividend, investors were pleased to see the company’s shares soar by 10%.

GPT Healthcare shares were trading 5.40% higher at ₹176.75 as of 2:00 pm.

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The market seems to have taken a positive stance on the company’s stock.

After the trading session ended on Tuesday, GPT Healthcare announced its financial results for the December quarter ending Q3FY24. GPT Healthcare had a net profit of Rs 11.47 crore from the trading activities. This is a 37.3 percent increase from Rs 8.354 crore posted in the same period last year. The company’s revenue rose to Rs 97 crore from Rs 93 crore in the same period last year, recording 4.3 percent growth.

Furthermore, the earning before interest, tax, depreciation, and amortization was Rs 21.4 crore in the quarter ending on December 31, 5 percent higher than Rs 20.3 crore recorded in the prior year. Margins also increased slightly to 22.1 percent from 21.8 percent in the same period last year. Last but not the least, following these strong results, GPT Healthcare declared an interim dividend for the Q3 period of Rs 1, which serves as another key highlight of the fortified financial position of the company.