Max Healthcare Q1 Results | Net profit surges 39% to Rs 240 crore, revenue Rs 1,285 crore

At the operating level, EBITDA increased 27.3 percent to Rs 337.4 crore in the first quarter of this fiscal over Rs 265.1 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 26.3 percent in the reporting quarter as compared to 24.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The network gross revenue was Rs 1,719 crore, reflecting growth of +17 percent year-on-year. An increase in ARPOB (+13 percent year-on-year) and occupied beds (+3 percent year-on-year) majorly contributed to revenue growth.

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 year-on-year and an operating EBITDA margin of 26.8 percent, compared to 26.5 percent in Q1 of FY23.

EBITDA per bed during the quarter improved to Rs 70.4 lakh, registering a growth of +14 percent year-on-year. Compared to Q4, the operating EBITDA and EBITDA per bed were flat as traditionally Q1 profitability is impacted due to annual merit increases and summer vacations.

Cash flow from operations stood at Rs 261 crore during the quarter, of which Rs 38 crore was spent on capacity expansion projects. Further, the cash generation was impacted by an increase in accounts receivables and expediting of routine capex for the year.

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. The international patient revenue grew by +31 percent year-on-year and +3 percent quarter-on-quarter. The share of international patient revenues stood at 9 percent of the hospital revenue during the quarter.

The results came after the close of the market hours. Shares of Max Healthcare Institute Ltd ended at Rs 583.05, up by Rs 43.95, or 8.15 percent on the BSE.