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Business News/ Companies / Company Results/  Max Healthcare net profit up 27% YoY to 291 crore in Q1
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Max Healthcare net profit up 27% YoY to ₹291 crore in Q1

Max Healthcare recorded a 17% rise in revenue to ₹1,719 crore in the same quarter of the current fiscal year.

he company's Ebitda per bed during the quarter grew 14% (HT)Premium
he company's Ebitda per bed during the quarter grew 14% (HT)

New Delhi: Max Healthcare Institute Limited on Monday reported a profit after tax of 291 crore in the June quarter, up 27% year-on-year. The company recorded a 17% rise in revenue to 1,719 crore in the same quarter of the current fiscal year.

The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at 436 crore with a 26.8% margin. The company's Ebitda per bed during the quarter grew 14% YoY, with average revenue per occupied bed (ARPOB) growing 13% due to price revisions. The company attributed this growth in ARPOB to price revisions (including an increase in CGHS tariff by Union Health Ministry) along with disparate growth in key specialty revenue including oncology, orthopaedics and cardiology.

Abhay Soi, chairman and managing director, Max Healthcare Institute Ltd., said: “…despite the traditionally weak Q1, we could deliver our highest ever quarterly revenue and improve profitability at bed level. While our installed capacity increased by 4% on a YoY basis, we maintained our occupancy levels with higher occupied beds across the network. In the past year, we have significantly strengthened our projects and digital teams to reinforce our thrust in both these areas, which is intrinsic to our growth going forward. I am proud of the success and positive feedback received for our Max MyHealth app which has now been fully rolled out."

Max Shalimar Bagh, which saw a capacity addition of 122 beds in recent months, reported a YoY revenue and Ebitda growth of 37% and 43% respectively, with an average occupancy of 7%. At the same time, revenue from international patients and Max Lab (non-captive pathology vertical) grew by 31% and 39% YoY, respectively.

Max's cash generated from operations stood at 261 crore, of which 38 crore was deployed towards ongoing capacity expansion projects. The company in the filing to the bourses said, “Cash generation was impacted by an increase in AR (Accounts Receivables) due to overdue from Institutions & TPAs (Third Party Administrators) and expediting of the routine capex for the year."

The healthcare provider’s net cash stood at 957 crore in the first quarter of the current fiscal year as compared to net debt of 217 crore in the same quarter last fiscal year.

Shares of the company closed 8.8% higher on the NSE to 585.75 on Monday.

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Updated: 07 Aug 2023, 07:41 PM IST
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