Max Healthcare net profit at Rs 190 cr in December quarter

Hospital chain Max Healthcare Institute Ltd on Saturday reported a consolidated profit after tax (PAT) and share of associates at Rs 189.75 crore for the third quarter ended December 31, 2021.

The company had posted a PAT and share of associates at Rs 90.36 crore for the year-ago period, Max Healthcare said in a regulatory filing.

Revenue from operations was at Rs 974.16 crore. It was at Rs 795.60 crore in the year-ago quarter, it added.

Total expenses were higher at Rs 808.63 crore during the quarter. They were at Rs 730.23 crore in the same period last fiscal year.

Results are not comparable due to the amalgamation with Radiant Life Care Ltd, which became effective from June 1, 2021, the company added.

"Post initial decline in occupancies due to the Omicron wave during December-January period, we are now starting to see a bounce back. With medical tourism slated to return to pre-COVID levels and other performance improvement measures being taken, we expect to maintain the momentum in the near future," Max Healthcare Chairman and MD Abhay Soi said in a statement.

Given the company's strong balance sheet and robust free cash flows from operations, he said,"We continue to focus equally on value additive inorganic growth opportunities and have already announced three transactions in this year which will enable augmentation of bed capacity by (around) 35 per cent in the coming years.