Q1 Results: Max Healthcare's Profit Rises By 27% YoY At Rs 291 Cr

Max Healthcare Institute, a healthcare services company in India, announced its financial and operating results for three months ended June 30, 2023, on Monday. The healthcare provider's gross revenue was Rs 1,719 crore, reflecting growth of 17 per cent YoY. 

Max Healthcare recorded an increase in ARPOB (Average Revenue Per Occupied Bed) of over 13 per cent YoY. Profit after tax (PAT) for the quarter stood at Rs 291 crore compared to Rs 229 crore in Q1 FY23 up by 27 per cent YoY.

Operating EBITDA stood at Rs 436 crore compared to Rs 370 crore in the corresponding quarter last year. This reflects a growth of 18 per cent YoY and an operating EBITDA margin of 26.8 per cent, compared to 26.5 per cent in Q1 FY23. 

EBITDA per bed during the quarter improved to Rs 70.4 lakhs, registering a growth of 14 per cent YoY. 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, the healthcare company said in a statement. 

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 Jun 2023 stood at Rs 957 crore, compared to Rs 733 crore at the end of Mar 2023.