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Multispeciality hospitality chain Shalby Ltd.'s shares declined by more than 3 percent on Wednesday after the company reported a mixed financial performance for the December quarter.

The hospital chain reported a net profit of Rs 15.3 crore for the December quarter, which was higher by 18 percent compared to Rs 12.94 crore in the year-ago period but down quarter-on-quarter by 17 percent from Rs 18.4 crore in the September quarter.

Revenue increased by 25 percent to Rs 202.5 crore in comparison to Rs 162.4 crore in the year-ago period. EBITDA also increased by 12 percent to Rs 31.5 crore compared to Rs 28.2 crore in the year-ago period.

Margins were down at 15 percent against 18 percent a year ago.

Earnings per share were at Rs 1.42 in the December quarter against Rs 1.20 a year ago and Rs 1.71 in the September quarter.

Hospital parameters were steady as hospital revenue rose by 17.4 percent YoY to Rs 179.8 crore. Occupancy improved to 43.2 percent from 41.5 percent a year ago.

The average revenue per occupied bed (ARPOB) rose to Rs 36,291 in the third quarter from Rs 32,049 a year ago while the average length of stay (ALOS) fell to 3.74 days from 4.02 days a year ago.

Implant business revenue rose by 153 percent YoY to Rs 22.8 crore while inpatient volumes were up 12 percent YoY and outpatient volumes by 17 percent YoY.

Shalby Ltd. operates a chain of 10 multispecialty tertiary hospitals and three Orthopedic Centers in India. It has an aggregate bed capacity of over 2,000 hospital beds and also diversified into Knee and Hip Implants manufacturing in the US.

Shares of Shalby ended 2.64 percent lower at Rs 155.15 on Wednesday.

(Edited by : Rukmani Krishna)