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Max Healthcare’s gross revenue stood at Rs1,473 crore, up 6% YoY

The company’s growth Q1 FY23 revenue and Operating EBITDA was driven mainly by improvement in payor mix, annual price revision and normalisation of patient footfalls after the Omicron wave waned in mid of Feb’22. (HT)Premium
The company’s growth Q1 FY23 revenue and Operating EBITDA was driven mainly by improvement in payor mix, annual price revision and normalisation of patient footfalls after the Omicron wave waned in mid of Feb’22. (HT)

  • Max Healthcare stated that EBITDA stood at 370 crore compared to 360 crore in the corresponding quarter last year (Q1 FY22) and 304 crore in the previous quarter (Q4 FY22)

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NEW DELHI : Max Healthcare on Wednesday announced its financial results for the three months ended June. The company’s gross revenue stood at 1,473 Cr during the first quarter reflecting a growth of 18% Year on year (YoY) and 14% Quarter on Quarter (QoQ). 

Max Healthcare stated that EBITDA stood at 370 crore compared to 360 crore in the corresponding quarter last year (Q1 FY22) and 304 crore in the previous quarter (Q4 FY22). 

“This reflects a growth of 23% YoY and 22% QoQ on a like-to-like basis2. Correspondingly, the Operating EBITDA margin stood at 26.6% for the quarter, compared to 25.3% in Q1 FY22 and 24.9% in Q4 FY22. EBITDA per bed during the quarter stood at 62 lakhs, registering a growth of 36% YoY and 10% QoQ," Max Healthcare said in a statement. 

Announcing Q1 results, Dr. Abhay Soi, Chairman and MD, Max Healthcare Institute said, “Q1 FY23 performance reflects normalisation of revenues and operating EBITDA post Omicron wave in the previous quarter. The quarter saw improvement in all operational and financial parameters. With well laid out plan for distilling payor mix and expansion plans currently underway, we expect to further build on this performance in the coming years. Moreover, we seek to employ our deleveraged Balance sheet towards inorganic growth in the near term." 

 

“Profit after tax for the quarter stood at 229 crore compared to 205 crore in Q1 last year and 172 crore in Q4 FY22. Consequently, the Net Debt position improved to 217 crore (including Put Option liability of 141 crore)," the statement said. 

The company’s growth Q1 FY23 revenue and Operating EBITDA was driven mainly by improvement in payor mix, annual price revision and normalisation of patient footfalls after the Omicron wave waned in mid of Feb’22. The international patient footfalls also reached pre-Covid levels in the quarter. 

 According to the statement, Max Lab (non-captive pathology vertical) added 90 channel partners during Q1 FY23, taking the overall active clients to more than 850 spread across 32 cities. 

“The vertical continued to grow and gross revenue reached INR 26 Cr during the quarter, recording a growth of 50% YoY and 24% QoQ on a like to like basis (excluding Covid-19 related tests)," it said. 

Max@Home gross revenue during the quarter was 32 crore, a growth of 10% over Q4 FY22 and 18% over Q1 FY22. 

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