The net profit during Q2FY23 includes one-time impact of Rs 244 crore due to reversal of deferred tax liability relating to intangible assets transferred to
pursuant to voluntary liquidation of Saket City Hospital and distribution of its business undertaking in August 2022.
Excluding one-time gain, the net profit stood at Rs 267 crore, which was 29% year-on-year increase.
The revenues rose 17% YoY to Rs 1567 crore.
Operating EBITDA for Q2FY23 was Rs 410 crore compared to Rs 362 crore in Q2FY22, rising by 22% YoY. The operating EBITDA margin stood at 27.7% for the second quarter, compared to 26.7% in Q2FY22.
The company said growth in Q2FY23 revenue and operating EBITDA were driven by higher occupancies, improved payor mix and increased ARR in the outpatient department. International patient revenue grew 16% YoY and reflected 110% of pre-Covid average.
Bed occupancy in Q2FY23 stood at 78%, about 1% of total occupied beds were used for Covid-19 patients. The average revenue per operating bed (ARPOB) improved to Rs 66,000 from Rs 59,000 in Q2FY22.
“The performance for Q2FY23 is as per our expectations and reflects the focus on execution across the organisation in line with our articulated strategy,” said Abhay Soi, chairman and MD, Max Healthcare.