Max Healthcare Q1 net profit rises 12% to Rs229 cr; sales up 5%

11 Aug 2022 , 09:20 AM

The yearly pricing revision and the normalization of patient foot traffic, according to Max Healthcare, drove its consolidated net profit for the June quarter up 11% to Rs229 crore.

In the past fiscal year’s June quarter, the healthcare provider had declared a net profit of Rs205 crore. Comparing the April-June quarter of the previous fiscal year to the period under review, net revenue increased to Rs1,393 crore from Rs1,322 crore.

The result in the first quarter of FY23, according to Max Healthcare Institute Chairman and MD Abhay Soi, “reflects the normalization of sales and operational EBITDA post-Omicron wave in the prior quarter.”

According to him, every operational and financial metric improved throughout the quarter. With a well-thought-out plan for distilling the payor mix and ongoing expansion goals, Soi stated, “We hope to further expand on this success in the next years.”

In the short term, the business hopes to use its deleveraged balance sheet for inorganic development, he continued. Shares of the business were down 2.1% at Rs373.55 a share approximately on the BSE.