For
the quarter ending June 2023, consolidated Net sales (including other operating income) of Max Healthcare Institute has increased 20.44% to Rs 1284.99 crore compared to quarter ended June 2022. Operating profit margin has jumped from 24.84% to 26.26%, leading to 27.32% rise in operating profit to Rs 337.38 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 20.58% to 21.27%. Employee cost decreased from 18.60% to 17.64%. Other expenses fell from 35.98% to 34.77%. Consultancy Management service cost fell from 22.24% to 21.15%. Other income rose 33.81% to Rs 41.32 crore. PBIDT rose 28% to Rs 378.7 crore. Provision for interest fell 13.28% to Rs 19.39 crore.
PBDT rose 31.37% to Rs 359.31 crore. Provision for depreciation fell 2.29% to Rs 55.82 crore.
Profit before tax grew 40.26% to Rs 303.49 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 63.41 crore, compared to Rs 43.55 crore. Effective tax rate was 20.89% compared to 20.13%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 38.91% to Rs 240.08 crore. Promoters’ stake was 23.76% as of 30 June 2023 ,compared to 50.64% as of 30 June 2022 .
Full year results analysis.
Net sales (including other operating income) of Max Healthcare Institute has increased 15.90% to Rs 4562.6 crore. Operating profit margin has jumped from 24.07% to 27.19%, leading to 30.91% rise in operating profit to Rs 1,240.53 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.59% to 20.47%. Employee cost decreased from 19.27% to 17.68%. Other expenses rose from 33.11% to 34.75%. Consultancy Management service cost rose from 20.52% to 21.55%. Other income rose 13.88% to Rs 139.24 crore. PBIDT rose 28.96% to Rs 1379.77 crore. Provision for interest fell 16.86% to Rs 83.86 crore. Loan funds declined from Rs 913.38 crore as of 31 March 2022 to Rs 688.96 crore as of 31 March 2023. Inventories rose to Rs 76.23 crore as of 31 March 2023 from Rs 61.36 crore as of 31 March 2022. Sundry debtors were lower at Rs 336.12 crore as of 31 March 2023 compared to Rs 385.36 crore as of 31 March 2022. Cash and bank balance rose to Rs 1,468.07 crore as of 31 March 2023 from Rs 499.31 crore as of 31 March 2022. Investments stood at Rs 0.51 crore as of 31 March 2023 to Rs 0.51 crore as of 31 March 2022.
PBDT rose 33.73% to Rs 1295.91 crore. Provision for depreciation rose 5.01% to Rs 232.19 crore. Fixed assets increased to Rs 2,225.63 crore as of 31 March 2023 from Rs 2,058.31 crore as of 31 March 2022. Intangible assets declined from Rs 5,110.39 crore to Rs 5,065.50 crore.
Profit before tax grew 42.22% to Rs 1,063.72 crore. Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 39.79 crore, compared to debit of Rs 133.85 crore. Effective tax rate was negative 3.74% compared to 18.11%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 82.38% to Rs 1,103.51 crore.
Equity capital increased from Rs 969.61 crore as of 31 March 2022 to Rs 970.92 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 23.77% as of 31 March 2023 ,compared to 50.64% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 1,209.18 crore for year ended March 2023 from Rs 740.52 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 335.61 crore, compared to Rs 553.34 crore during the year ended March 2022.
Other Highlights
In
Q1 FY24, Network revenue grew 17%, on YoY basis.
Bed occupancy in Q1 FY24 stood at 74% and
Occupied Bed Days (OBD) grew by +3% YoY.
ARPOB
(Average Revenue per Occupied bed) improved to Rs 74.8k in Q1 FY24 vs.
Rs 66.0k in Q1 FY23.
In
Q1 FY24,