Max Healthcare PAT jumps 86 percent to Rs 320 crore in Q4
New Delhi: Max Healthcare Institute on Tuesday said its profit after tax (PAT) jumped 86 per cent to Rs 320 crore in the March quarter of 2022-23 on account of improvement in operating metrics in hospitals and a reduction in finance costs. The healthcare provider had reported a PAT of Rs 172 crore for January-March 2021-22.
Net revenue increased to Rs 1,551 crore in the fourth quarter from Rs 1,224 crore in the year-ago period, Max Healthcare said in a statement.
For the year ended March 31, 2023, it posted a PAT of Rs 1,328 crore as compared with Rs 752 crore in 2021-22. Net revenue rose to Rs 5,902 crore in FY23 as compared with Rs 4,981 crore in 2021-22.
Max Healthcare Institute Chairman and Managing Director Abhay Soi said the company is actively but prudently evaluating inorganic growth opportunities.
The company said its board has approved a final dividend of Re 1 per equity share for the year ended March 31, 2023.
Max Healthcare Institute Limited has major concentration in North India consisting of a network of 17 healthcare facilities. Out of the total network, eight hospitals and four medical centres are located in Delhi and the NCR and the others are located in the cities of Mumbai, Mohali, Bathinda and Dehradun. The Max network includes all the hospitals and medical centres owned and operated by the Company and its subsidiaries, partner healthcare facilities and managed healthcare facilities. These include state-of-the-art tertiary and quaternary care hospitals at Saket, Patparganj, Vaishali, Rajendra Place, and Shalimar Bagh in Delhi NCR and one each in Mumbai, Mohali, Bathinda and Dehradun, secondary care hospital in Gurgaon and Day Care Centres at Noida, Lajpat Nagar and Panchsheel Park in Delhi NCR and one in Mohali, Punjab. The hospitals in Mohali and Bathinda are under PPP arrangement with the Government of Punjab.
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