A leading provider of health care services for the elderly and disabled, Allina Healthcare, has reported record quarterly revenue for the second quarter of 2017, after posting record quarterly profit in 2016.
The company said it had revenue of Rs 1,764 crore for the quarter ended March 31, 2018, a 14% increase over the same period last year.
In the latest quarterly earnings report for the first quarter, Allin said that it had sales of Rs 5,056 crore for a net loss of Rs 4,095 crore.
The revenue growth was partly due to growth in sales of health services, the report said, citing data from the company.
The total revenue of the company stood at Rs 1.8 lakh crore, compared to Rs 1 lakh crore in the previous quarter.
The growth was also seen in health care service revenue, which stood at 7% compared to 7.5% in the prior quarter.
In a separate statement, All inna also said that its sales growth was the best since it began trading in 2015.
In 2018, AllInna saw growth of 9.3% in its services segment, up from 8.5%.
It said it also witnessed strong growth in its health care business, with its revenues of Rs 2,788 crore for 2017.
It said its operating profit in the second half of 2017 was Rs 479 crore, up 17% from Rs 2.9 crore in 2016, with a net profit of Rs 3,898 crore.
In other words, it said, it saw its profits climb by 29.7% year-on-year.
The financials of Allinna were also released on Monday, with revenue for fiscal 2018 coming in at Rs 5.18 lakh crore.
Allinna is the only nationalised insurer in India, but it has a market share of only 10%.
The Indian government is planning to privatise the insurance sector by the end of this year.