Max Healthcare Institute Ltd. (MHIL), one of the largest private sector healthcare services company in India, announced its financial and operating results for three months ended June 30, 2023, the company on Monday announced through an exchange filing.
Network gross revenue was Rs 1,719 crore, reflecting a growth of 17 percent YoY. Increase in ARPOB (13 percent YoY) and occupied beds (3 percent YoY) majorly contributed to the revenue growth.
Network Operating EBITDA
Network Operating EBITDA stood at Rs 436 crore compared to Rs 370 crore in the corresponding quarter last year. This reflects a growth of 18 percent YoY and operating EBITDA margin of 26.8 percent, compared to 26.5 percent in Q1 FY23. EBITDA per bed during the quarter improved to Rs 70.4 lakhs, registering a growth of 14 percent YoY.
Profit after tax
Profit after tax (PAT) for the quarter stood at Rs 291 crore compared to Rs 229 crore in Q1 FY23 and Rs 320 crore in Q4 FY23.
Cash flow from operations
Cash flow from operations stood at Rs 261 crore during the quarter, of which approximately Rs 38 crore was spent on capacity expansion projects.
Net Cash surplus at the end of June 2023 stood at Rs 957 crore, compared to Rs 733 crore at the end of March 2023.
Max Shalimar Bagh
Max Shalimar Bagh, which saw a capacity addition of 122 beds in recent months, reported a YoY Revenue & EBITDA growth of 37 percent & 43 percent respectively, with an average occupancy of 77 percent.
International patient revenue grew by 31 percent YoY and 3 percent QoQ. The share of international patient revenues stood at 9 percent of the hospital revenue during the quarter.
Max Lab
Max Lab (non-captive pathology vertical) reported gross revenue of Rs 34 crore during the quarter, recording a growth of 39 percent YoY on a like to like basis1 (excluding Covid19 related tests) and 10 percent QoQ.
Max@Home gross revenue during Q1 FY24 was Rs 40 crore, a growth of 24 percent YoY and 7 percent QoQ.
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