Max Healthcare Q1 net profit up 12% at Rs 229 cr; revenue rises 5%

'Q1FY23 performance reflects normalisation of revenues and operating EBITDA post Omicron wave in the previous quarter,' Max Healthcare Chairman and MD Abhay Soi said in a statement

Max Healthcare on Wednesday said its consolidated net profit increased by 12 per cent to Rs 229 crore for the June quarter driven by annual price revision and normalisation of patient footfalls.

The healthcare provider had reported a net profit of Rs 205 crore in the June quarter of last fiscal.

Net revenue during the period under review rose to Rs 1,393 crore as compared with Rs 1,322 crore in the April-June quarter of the last fiscal.

"Q1FY23 performance reflects normalisation of revenues and operating EBITDA post Omicron wave in the previous quarter," Max Healthcare Institute Chairman and MD Abhay Soi said in a statement.

The quarter saw improvement in all operational and financial parameters, he added.

"With well laid out plan for distilling payor mix and expansion plans currently underway, we expect to further build on this performance in the coming years," Soi noted.

The company seeks to employ its deleveraged balance sheet towards inorganic growth in the near term, he added.

Shares of the company were trading 2.1 per cent down at Rs 373.55 apiece on the BSE.