Max Healthcare net profit rises three-fold to Rs 457 crore in Sept quarter

Max Healthcare reported an over three-fold rise in its consolidated net profit for the second quarter to Rs 457.35 crore, as against Rs 144.65 crore in the year-ago period

Max Healthcare on Tuesday reported an over three-fold rise in its consolidated net profit for the second quarter to Rs 457.35 crore, as against Rs 144.65 crore in the year-ago period.

The healthcare provider's revenue from operations stood at Rs 1,137.12 crore during the July-September period, up from Rs 1,019.26 crore, a regulatory filing showed.

Its total expenses also increased to Rs 897.72 crore during the quarter under review, as against Rs 860.09 crore in the year-ago period.

Abhay Soi, Chairman and MD, Max Healthcare Institute Ltd, said: "The performance for Q2 FY23 is as per our expectations and reflects the focus on execution across the organisation in line with our articulated strategy. Healthcare sector in general and Max Healthcare in particular are making significant investments over the next 4-5 years leading to huge employment opportunities and a multiplier effect on GDP."

He added that the impetus provided by the government through its focus on healthcare and 'heal in India' initiatives will provide a watershed moment for the industry.