IKS Health announced a 16% year-over-year increase in revenue to ₹6,572 million for the quarter ending on December 31, 2024, driven by strong performance from its top five customers and new client acquisitions.
At 2:30 pm today, IKS’s shares were trading at ₹1,698, down by ₹53.90 or 3.08% on the NSE.
The healthcare technology solutions provider saw a 28% year-over-year increase in profit after tax (PAT) to ₹1,297 million, with EBITDA also rising by 24% to ₹2,006 million. The company’s EBITDA margins improved to 30.5%, up from 24% in the previous fiscal year.
During the quarter, IKS Health secured new clients such as Palomar Health & Palomar Health Medical Group, Radiology Partners, and Western Washington Medical Group. The company also launched an AI-driven version of its Scribble product, featuring automated clinical documentation and HIPAA-compliant encryption.
CEO Sachin K Gupta credited the improved profitability to the transformation of legacy AQuity’s operating model through technology and global human capital. CFO Nithya Balasubramanian noted that PAT growth outpaced EBITDA growth due to lower finance costs from continued debt repayment.
Listed on the National Stock Exchange of India and BSE Limited in December 2024, IKS Health primarily offers technology-enabled healthcare solutions in the US, Canada, and Australia.
This article was first published on February 6, 2025.
