Max Healthcare Institute Ltd reported its fiscal first quarter earnings with a profit decline of 1.6 per cent at Rs 236.27 crore in comparison to Rs 240.08 crore recorded during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 1542.95 crore, up 20.1 per cent as against Rs 1284.99 crore posted during the same period of last year. The company EBITDA stood at Rs 387.41 crore.
Max Healthcare posted network gross revenue at Rs 2,028 crore, reflecting a growth of +18 per cent YoY. Of this, new units added 6 per cent to growth, and existing units grew by 12 per cent YoY, which was driven by increase in ARPOB (+7 per cent YoY) and OBDs (+5 per cent YoY).
Network Operating EBITDA, meanwhile, stood at Rs 499 crore, reflecting a growth of +14 per cent YoY. Operating EBITDA margin for existing units stood at 26.5 per cent for the quarter. EBITDA per bed from existing units improved to Rs 74.7 lakh, registering a growth of +6 per cent YoY.
The company said that bed occupancy for existing units was 76.6 per cent, withOBDs up by ~5 per cent YoY while new units reported occupancy of 59 per cent. During the quarter, overall OBDs grew by around 14 per cent YoY. It further said that free treatment was provided to 36,832 patients in OPD and 1,152 patients in IPD from the economically weaker sections.
Max Lab (non-captive pathology vertical) reported gross revenue of Rs 41 crore during the quarter, up 21 per cent YoY. Further, Max Lab services are now available across 49 cities. Meanwhile, Max@Home posted gross revenue during Q1FY25 at Rs 49 crore, up 23 per cent YoY, driven primarily by critical care, medical rooms & physio@home verticals.
Abhay Soi, Chairman and Managing Director, Max Healthcare Institute Ltd, said, “With launch of Max Super Specialty Hospital, Dwarka, we have added over 900 beds to our capacity so far and have successfully supplemented the momentum of growth in revenues and profitability before augmentation of bed capacity through brown field expansion plans in FY26. In the meanwhile, consistent performance in existing hospitals and encouraging response to our offerings at new units is providing us with confidence to further pursue growth opportunities including newly entered built to-suit arrangement in Mohali.”
Clinical updates for Q1
Max Healthcare performed around 2,900 Liver Transplants, approximately 4,160 Kidney Transplants and 1,830 Bone Marrow Transplants till date. In terms of achievements during the period, it said that Brain Tumor affecting vital structures of the 7-year-old girl diagnosed with complex retroperitoneal tumor successfully removed at Max Hospital Dehradun. Nanavati Max successfully performed a complex liver transplant from a deceased 18-month-old to a 14-year-old child, making this one of the rare cases of pediatric transplantation. 2 weeks old baby born prematurely with severe blockage in the main heart vessel cured at Max Hospital Saket by successfully performing a heart procedure (Balloon dilatation of the coarctation of the aorta), stabilising the baby in under an hour. In an innovative medical achievement, Nanavati Max treated a 71-year-old man suffering from a cancerous mass near the upper intestine without resorting to the invasive Whipple’s surgery.
Max Healthcare’s investment in Mohali hospital
Max Healthcare also announced that its board has approved the setting up of an over 250-bed hospital in Mohali’s Zirakpur, Punjab, at an investment of Rs 230 crore. It will enter into a long-term lease arrangement with Silicon Constructions Pvt Ltd for setting up a build-to-suit hospital. Max Healthcare Network has an existing capacity of around 4300 beds as on June 30, 2024. “The proposed construction of hospital premises is expected to be completed in ~48 months,” the company said in a regulatory filing. The proposed loan agreement will be executed between the company and Muthoot Hospitals Private Limited (Muthoot), it said.