Healthcare Tech firm IKS Health posts 16% revenue jump in Q3
IKS Health reported a 16 per cent year-over-year revenue growth to ₹6,572 million for the quarter ended December 31, 2024, driven by strong performance from its top five customers and new client acquisitions.
The shares of IKS were trading at ₹1,698 down by ₹53.90 or 3.08 per cent on the NSE today at 2.30 pm.
The healthcare technology solutions provider saw its profit after tax (PAT) rise 28 per cent year-over-year to ₹1,297 million, while EBITDA increased 24 per cent to ₹2,006 million. The company’s EBITDA margins improved to 30.5 per cent, up from 24 per cent in the previous fiscal year.
During the quarter, IKS Health secured significant client wins, including Palomar Health & Palomar Health Medical Group and Radiology Partners in October, and Western Washington Medical Group in December. The company also launched an AI-driven version of its Scribble product, featuring automated clinical documentation and HIPAA-compliant encryption.
CEO Sachin K Gupta attributed 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.
IKS Health, which was listed on the National Stock Exchange of India and BSE Limited in December 2024, provides technology-enabled healthcare solutions primarily in the US, Canada, and Australia.
