Max Healthcare Q2 Profit Soars 27% to Rs 338 Crore

New Delhi, Nov 6 (PTI) Max Healthcare Institute Ltd on Monday reported a 26.59 per cent rise in profit after tax to Rs 338 crore in the quarter ended September 30, 2023.

The company had registered a profit after tax of Rs 267 crore in the same quarter last fiscal, Max Healthcare Institute said in a statement.

Network gross revenue, including subsidiaries, managed hospitals and partner healthcare facilities, stood at Rs 1,827 crore as compared to Rs 1,567 crore in the year-ago period, up 16.59 per cent, it added.

"Q2 results are in line with our expectations and reflect the continuous focus on execution at the grass-root level," Max Healthcare Institute Chairman and Managing Director Abhay Soi said.

The company said all hospitals improved their average revenue per operating bed (ARPOB) during the period and the overall average growth in ARPOB stood at 13 per cent year-on-year (YoY).

During the quarter, international patient revenue grew by 25 per cent as compared to the year-ago period, and the share of international patient revenues stood at 9 per cent of the hospital revenue during the quarter, it added.

On the outlook, Soi said, "We are well-poised to absorb addition to network bed capacity in the coming years, while we evaluate merger and acquisition targets for inorganic growth...We continue to see attractive opportunities for significant investments in the sector."

Further, he said Max Dwarka has applied for an occupancy certificate and the company is looking forward to operationalising the hospital in the fourth quarter of FY24.