Max Healthcare on Tuesday reported more than doubling of its profit after tax to Rs 511 crore for the second quarter ended September helped by a one-time gain of Rs 244 crore. It had reported a PAT (Profit After Tax) of Rs 207 crore in the corresponding period a year ago.
The company in a statement said there was an impact of Rs 244 crore due to reversal of deferred tax liability (net of capital gains tax) relating to intangible assets transferred to Max Healthcare Institute Limited pursuant to voluntary liquidation of Saket City Hospital Limited and distribution of its business undertaking in August 2022.
Max Healthcare also reported an over three-fold rise in its consolidated net profit for the second quarter to Rs 457.35 crore, as against Rs 144.65 crore in the year-ago period. The healthcare provider’s net revenue stood at Rs 1,482 crore during the July-September period, up from Rs 1,353 crore.
Its revenue from operations stood at Rs 1,137.12 crore during the July-September period, up from Rs 1,019.26 crore, a regulatory filing showed. Max Healthcare’s total expenses also increased to Rs 897.72 crore during the quarter under review, as against Rs 860.09 crore in the year-ago period.