homeearnings NewsNarayana Health's Viren Shetty expects third wave to be less severe than second wave
Narayana Health's Viren Shetty expects third wave to be less severe than second wave
Narayana Health posted Q4FY21 earnings. The company has clocked in a record-high profit, and margins have improved significantly to 17 percent. However, the management commentary remains quite cautious on near-term recovery. Viren Shetty, Executive Director and Group COO, Narayana Health, discussed the performance.
Narayana Health posted Q4FY21 earnings. The company has clocked in a record-high profit, and margins have improved significantly to 17 percent. However, the management commentary remains quite cautious on near-term recovery. Viren Shetty, Executive Director and Group COO, Narayana Health, discussed the performance.
“We are working with a large number of corporates, buying huge numbers of ventilators and oxygen generators, while maintaining a huge stock of medicines and PPEs to prepare for any eventuality,” he said.
“We were still in the process of procuring a large number of ventilators and oxygen generators when the second wave of COVID-19 hit us. So now, we are not taking any chances,” he shared.
Shetty further opined, “All signs indicate that the third wave may not be as bad as the second wave, but so far COVID has continued to surprise us. Since the third wave is expected to impact children more, we are buying a lot of ventilators that have a paediatric setting to be able to treat both adults and children alike.”
In terms of capping of COVID rates, he said, “If you look at capping the rates as a philosophy, then it has very disturbing ramifications. If one person does it, it would get the sense that all the state governments may take this up. If the rates for everyone are capped, rich patients are paying less, poor patients are paying more and that is absolutely not a fair situation.”
In rural Karnataka, the hospitals are dealing with a huge number of COVID patients, it may still take a couple of more weeks for it to normalise, he mentioned.
“In West Bengal, the numbers are starting to fall. There are barely any new patients coming to us with COVID, and we are able to cure the existing patients too. June looks to be quite a positive month for us, but still very much a month in recovery. It is only from Q2 that we will start to see what non-COVID numbers start to look like,” he shared.
For the full interview, watch the accompanying video.
(Edited by : Dipika)
First Published: Jun 2, 2021 12:23 PM IST
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