Max Healthcare Q2 Results: Gross Revenue Increases 52% YoY to Rs 1,434 crore

Max Healthcare Institute, one of India’s leading private health services companies, said today that the network’s gross revenue reached Rs 1,434 crore in the second quarter of fiscal year 2021-2022.

Max reflects growth of 52% year-on-year and 4% quarter-on-quarter. “This includes Rs 91 crore from Covid-19 vaccinations and related antibody tests during the quarter, compared to Rs 136 crore in the first quarter of fiscal 22. Gross revenue excluding vaccination and testing associated antibodies thus increased by 8% compared to the first quarter of fiscal year 22, “he said in a statement.

Network operating EBITDA was the highest ever, rising to Rs 362 crore compared to Rs 143 crore in the corresponding quarter of last year and Rs 360 crore in the previous quarter (Q1 FY22).

“This is the highest quarterly operating EBITDA on record and represents a fourth consecutive quarter of EBITDA growth. The operating EBITDA margin was 26.8% for the quarter, compared to 16.2% for the corresponding period of FY21, ”he said.

“I am proud of our outstanding performance in the first half of FY22. It is more satisfying to note that our teams battled the second wave of Covid-19 at Ncrore – which was zero, valiantly and treated over 37,000 Covid patients, performed around 7.3 lakh of RTPcrore tests and administered around 20 , 2 lakh of vaccination doses to date. We have also provided care to approximately 56,200 patients for free while delivering an operational EBITDA of Rs 722 crore at S1FY22, which is significantly higher than any EBITDA of the previous year and translates into a ROCE of 30% ”, Abhay Self, president and CEO, Max Healthcare Institute, said in a statement.

However, the company saw a decrease in revenue from the Covid vaccination and related tests compared to the previous quarter.

Operational EBIDTA per bed increased by 21% QoQ.

“Financial performance improved in the last quarter despite a decrease in occupancy rate of around 565 basis points, lower revenues from the Covid-19 vaccination and fewer international patients. A higher ARPOB, better attendance of the OPD, a marked increase in the number of surgeries and the continuous strengthening of medical programs in the hospitals of the network have contributed significantly to the improvement in performance ”, he added. -he adds.

International medical tourism revenues remained weak and amounted to Rs 46 crore in the quarter – a drop of 14% from the first quarter of fiscal 22, following restrictions on air travel.

The company has also seen a drop in admissions and vaccinations linked to Covid-19. Volumes fell significantly during the quarter, he said.

Non-covid admissions, however, have increased dramatically across all major specialties to exceed pre-Covid levels.

“The second quarter saw normalization of revenues after the second wave of COVID-19 infections and although income related to occupancy and vaccination was lower than in the previous quarter, this was more than made up for. by the growth of ARPOB after the return of elective surgeries and the improvement in attendance at OPDs. Medical tourism, however, continues to be at 1/3 of pre-COVID levels and we expect this to normalize over the next few quarters, ”Soi added.