India's Shalby hits 8-month high as COVID-19 patient occupancy drives Q2 profit

Shalby

13/10/2020 05:22

** Shares of multi-specialty hospital chain  SHAY.NS  rise
as much as 9% to 108.80 rupees ($1.48), their highest since Feb.
3
    ** Ahmedabad, Gujarat-based co on Monday reported a near
two-fold rise in September quarter profit  urn:newsml:reuters.com:*:nFWN2H3027
    ** Bed occupancy levels surged 41% in Q2 vs previous year,
led by COVID-19 patients and a rise in surgeries, co said 
    ** Margin improvement was primarily driven by higher
occupancy from COVID-19 patients coupled with lower consumption
of materials and consumables - SHAY
    ** Nearly 2.2 mln shares changed hands in early trade, 6.7x
30-day avg
    ** SHAY shares have gained 7.7% so far this year as of last
close

($1 = 73.4250 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))