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KIMS share price zooms 6% after proposing stock split; details here

Shares of Krishna Institute of Medical Sciences (KIMS) shot up to 6.4 per cent at Rs 2187 per share on the BSE in Tuesday's intraday deals

KIMS hospital, Hospital chain

KIMS hospital

SI Reporter New Delhi

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Shares of Krishna Institute of Medical Sciences (KIMS) shot up to 6.4 per cent at Rs 2187 per share on the BSE in Tuesday’s intraday deals. The share price of the company has zoomed 7.13 per cent, while zooming 22 per cent in the last one year.

The share price is presently trading near its 52-week high of Rs 2,357, hit on February 29, 2024. The hospital chain had hit its 52-week low of Rs 1,625.05 on October 16, 2023. 

However, the recent uptick in the stock price came after the healthcare firm proposed a stock split, with one equity share of Rs 10 splitting into five equity shares of Rs 2 each.

KIMS board will meet on June 28 to consider the sub-division of its equity shares, the company said in an exchange filing on Monday. 

KIMS Hospitals is one of the largest corporate healthcare groups in India, operating in Telangana, Andhra Pradesh, and Maharashtra. It provides multidisciplinary integrated healthcare services with a focus on tertiary and quaternary healthcare at affordable costs. 

The group manages 12 multi-specialty hospitals under the brand "KIMS Hospitals," boasting a combined bed capacity exceeding 4,000 beds.

KIMS Hospitals reported a 29 per cent decline in consolidated net profit, amounting to Rs 65.4 crore for the March quarter of the financial year 2023-24. In comparison, the company had earned a net profit of Rs 93.2 crore in the corresponding period of the previous year.

The multispecialty hospital chain, operating in Andhra Pradesh and Telangana, disclosed that revenue for the quarter increased by 10 per cent to Rs 634 crore. In the same period last year, it reported revenue from operations amounting to Rs 576 crore.

At 09:56 AM; the share of the company was 4.26 per cent higher at Rs 2,141.95 per share on the BSE. By comparison, the BSE Sensex was trading 0.27 per cent higher at 77,557 levels. 

The shares of KIMS are presently trading at a price to earnings multiple of 69.86 times with an earning per share of Rs 29.41.

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First Published: Jun 25 2024 | 10:09 AM IST

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