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Business News/ Companies / News/  Max Healthcare reports Q2 gross revenue at 1,434 crore, up 52% YoY
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Max Healthcare reports Q2 gross revenue at ₹1,434 crore, up 52% YoY

Income from covid-19 vaccinations and related antibody tests during Q2 stood at ₹91 crore compared with ₹136 crore in Q1 FY22. Gross revenue, excluding vaccination and related antibody tests, thus, grew 8% sequentially

Max Healthcare said network operating Ebitda improved to ₹362 crore from ₹143 crore in the corresponding quarter a year ago.Premium
Max Healthcare said network operating Ebitda improved to 362 crore from 143 crore in the corresponding quarter a year ago.

Max Healthcare Institute Ltd on Friday reported a 52% year-on-year (YoY) rise in its gross revenue to 1,434 crore for the quarter ended September (Q2). Sequentially, revenues rose 4%.

Income from covid-19 vaccinations and related antibody tests during the quarter under review stood at 91 crore compared with 136 crore in Q1 FY22. Gross revenue, excluding vaccination and related antibody tests, thus, grew 8% sequentially, the company said.

Network operating Ebitda improved to 362 crore from 143 crore in the corresponding quarter last year and 360 crore during April-June. Ebitda stands for earnings before interest, taxes, depreciation, and amortization.

“This is the highest-ever quarterly Operating Ebitda and represents the fourth consecutive quarter of Ebitda growth. Operating Ebitda margin stood at 26.8% for the quarter, up from 16.2% in the corresponding period in FY21," Max Healthcare said in a statement.

This is, however, 45 bps lower quarter-on-quarter mainly due to a drop in revenue from covid-19 vaccination and related tests, it said, adding that operating Ebitda per bed grew 21% QoQ. The financial performance, the company said, improved over the trailing quarter despite a drop in occupancy by 565 bps, lower revenue from vaccinations, and fewer international patients.

“Higher ARPOB, improved OPD footfalls, marked increase in the number of surgical procedures and ongoing strengthening of medical programs in the network hospitals contributed significantly to improved performance. Continued focus on managing cost lines and structural cost initiatives implemented over the last 2 years also helped network hospitals report steady improvement in operating margin and best in class financial results," the company said.

“We also provided care to 56,200 patients free of cost and yet delivered Operating EBITDA of 722 crore in H1 FY 22, which is significantly higher than any past full-year EBITDA and translates to a ROCE of 30%," Abhay Soi, chairman and managing director, Max Healthcare Institute Ltd, said.

The company added that Q2 saw normalisation of revenues post the second wave of covid infections and while occupancy and vaccination-related revenues were lower than the previous quarter, which was more than compensated by growth in ARPOB post return of elective surgeries and improved OPD footfalls. Medical tourism, however, has remained at a third of pre-covid levels and this is expected to normalise in the coming quarters, it said.

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Published: 12 Nov 2021, 05:26 PM IST
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