On Tuesday, New Delhi-based Max Healthcare Institute Ltd. reported a consolidated net profit of ₹205 crore for the quarter ended June 2021, i.e., Q1FY22 following high overall occupancy, improvement indirect cost ratios and the increased pace of COVID-19 vaccination.
The gross network revenue of the hospital chain witnessed a growth of 124 per cent year-on-year (YoY) and 19 per cent sequentially, to ₹1,385 crore during Q1FY22 as against Q1FY21’s ₹617 crore.
It reported the highest ever quarterly network operating EBITDA (earnings before interest, taxes, depreciation and amortization) at ₹360 crore, rising from ₹₹22 crore a year ago and ₹263 crore during the March quarter.
“The significant improvement in Operating EBDITA is also attributed to the gains from augmentation of clinical programs and structural cost savings undertaken in last two fiscal years”, the hospital chain stated.
According to Max Healthcare, the financial performance improved over the trailing quarter despite an 8.2 per cent decline in ARPOB (average revenue per occupied bed).
The average bed occupancy for Q1FY22 was reported to be 80.8 per cent. However, the June occupancy decreased to 69.4 per cent with only around 60 coronavirus patients under treatment at network hospitals as of 30th June.
After the announcement of the result, Max Healthcare’s shares hit a record high of ₹309.80 as they rallied 8 per cent on the Bombay Stock Exchange (BSE) in intra-day trade today.
