Max Healthcare Q3 Results: Profit Rises In Line With Estimates

The Delhi-based hospital chain's Net profit rose 7% year-on-year to Rs 269 crore in the three months ended December.

<div class="paragraphs"><p>Source: Unsplash</p></div>
Source: Unsplash

Max Healthcare Institute Ltd.’s third-quarter profit rose in-line with estimates.

The Delhi-based hospital chain's net profit rose 7% year-on-year to Rs 269 crore in the three months ended December, according to its exchange filing. That compares with the Rs 268 crore consensus estimate of analysts tracked by Bloomberg.

These numbers consider the profit from its network hospitals, which include managed hospitals and partner healthcare facilities, which are off-balance sheet.

The company’s average revenue per operating bed improved to Rs 66,800 from Rs 61,000, and its bed occupancy stood at 77% in the third-quarter.

Q3 FY23 Highlights (YoY)

  • Revenue rose 13% to Rs 1,559 crore, against the estimated Rs 1,467 crore.

  • Ebitda was up 15% to Rs 419 crore, compared with the Rs 403 crore forecast.

  • Ebitda margin stood at 28.3% against 27.8%. Analysts had estimated 27.5%.

"By virtue of focus on healthcare infrastructure, research and skilling as well as ground breaking policies such as National Digital Healthcare Mission, Heal In India, and Heal By India, the government has established a solid foundation to enable the private sector players in India to cater to both domestic and global requirements at affordable prices," said Abhay Soi, chairman and managing director at Max Healthcare, said in the exchange filing.

As a leading player in the sector they are excited about the future, he said.

Shares of Max Healthcare were trading 0.74% lower after the quarterly results were announced, compared with a 0.11% decline in the benchmark Sensex as of 2:07 p.m.