Max Healthcare September quarter Results: Posts multifold jump in net profit to Rs 145 crore

Max Healthcare Institute on Friday reported a multifold jump in its consolidated net profit to Rs 144.65 crore for the quarter ended September 30, mainly on account of a rise in revenue from elective surgeries and improved OPD footfalls.

The company had posted a net profit of Rs 16.65 crore for the corresponding period of the previous fiscal, Max Healthcare Institute Ltd said in a regulatory filing.

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Its consolidated revenue from operations during July-September 2021 stood at Rs 1,018.33 crore. It had stood at Rs 650.94 crore in the corresponding period a year ago, it added.

Max Healthcare Institute Chairman and MD Abhay Soi said, "(The second quarter) saw the normalisation of revenues after the second wave of coronavirus infections. While occupancy and vaccination-related revenues were lower than the previous quarter, this was more than compensated by growth in average revenue per occupied bed (ARPOB) post return of elective surgeries and improved OPD footfalls."

However, medical tourism continues to be at a third of pre-COVID levels, and the company expects this to normalise in the coming quarter, he added.

"We continue to be optimistic about the opportunity in the NCR region and are happy to have secured three prime locations for further strengthening of our network footprint in this region," Soi said.

Higher ARPOB, improved OPD footfalls, marked an increase in the number of surgical procedures, and the ongoing strengthening of medical programmes in the network hospitals contributed significantly to the improved performance, Max Healthcare Institute said.

Shares of Max Healthcare Institute on Friday were trading at Rs 340.85 per scrip on the BSE, up 1.34 per cent from its previous close. PTI