While there are dark clouds of recession looming over the economy (hopefully things have improved), people didn’t think twice about spending on their health.

As per a report by ASSOCHAM, financial performance of the Indian healthcare industry showed a growth of 42.4% in net profit during the first quarter of the current fiscal year.

In healthcare sector, the 10 major groups registered a growth of 23.94% in total income and 21.37% in total expenditure in the first quarter of FY ’10. While the employee cost increased by 22.24% during the Q1 FY ’10 as compared to the same period in last year.

Healthcare services provider such as Apollo hospital, Piramal Healthcare, Cadila and Glaxosmithkline registered major growth in net profit and employment cost during the first quarter of FY ’10 as compared to the same period last year (source)

Read: Recession – Crisis or Opportunity? | What is that consumers will pay for?

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