Max Healthcare Q4 net profit rises 26.8% to Rs 319 crore, revenue up 32%

Profit growth driven by higher occupancy, rising Arpob, international patient inflow and new bed additions across Lucknow, Dwarka and BLK Max facilities

Max Healthcare Institute on Tuesday reported a 26.8 per cent year-on-year (Y-o-Y) rise in consolidated net profit in the March quarter of financial year 2024–25 (Q4 FY25) to Rs 319 crore, up from Rs 251.54 crore reported in the same quarter last year.

 

The New Delhi-based hospital chain’s revenue from operations rose to Rs 1,909.74 crore, a 32 per cent Y-o-Y rise from Rs 1,422.90 crore in Q4 FY24.

 

Sequentially, the company’s net profit rose by 33.8 per cent, while revenue grew marginally by 2 per cent from Rs 238.80 crore and Rs 1,868.31 crore recorded in Q3 FY25, respectively.

 

 

The company has earlier stated that three of its partner healthcare facilities in New Delhi — Max Balaji Hospital, Max Smart Super Speciality Hospital and Max Saket Super Speciality Hospital — are not included in consolidated financial statements.

 

If the three facilities are considered, revenue for the whole entity stands at Rs 2,302 crore, and net profit would be Rs 376 crore, according to the company’s investor presentation.

 

The on-year rise in revenue was attributed to a rise in occupied bed capacity at new facilities and a subsequent increase in the average revenue per occupied bed (Arpob) per day.

 

In the March quarter, Max Healthcare saw its operational bed capacity go up by 188 beds, mainly at Lucknow, Dwarka and BLK Max Hospitals. “Overall occupancy stood at 75 per cent, with occupied bed days (OBDs) growing by 30 per cent on-year,” the company said. 

 

The company’s Arpob per OBD also stood at Rs 77,100, up from Rs 76,800 in Q4 FY24. It also saw a 28 per cent year-on-year increase in international patient revenue to Rs 202 crore in Q4 FY25, comprising nearly 9 per cent of the hospital’s revenue.

 

Abhay Soi, chairman and managing director, Max Healthcare, said that the company took strategic steps in Q4 to position it for long-term growth, including corporate actions and two M&A transactions.

 

This includes execution of a long-term service agreement to establish a 200-bed hospital in north-west Delhi and a sale deed for the purchase of a one-acre land parcel, along with the Max Super Speciality Hospital in Uttar Pradesh’s Vaishali building.

 

“The property is adjoining the existing hospital premises and will enable brownfield expansion of the hospital’s capacity from 387 beds to 527 beds, within the next 30 months,” Max stated in a regulatory filing.

 

Soi added that the company will also be commencing operations at three new brownfield towers in Saket, Nanavati and Mohali hospitals in the next three months.

 

On the company’s expansion plans, Soi had previously told Business Standard that Max is looking to expand bed capacity by at least 1,500, or 30 per cent of its current size, reaching around 6,500 beds, in the ongoing financial year 2025–26 (FY26).

 

On Tuesday, Max Healthcare’s shares fell by 1.84 per cent, ending the day’s trade at Rs 1,165.30 apiece on the Bombay Stock Exchange (BSE).