India's Max Healthcare gains on quarterly profit growth

Max Healthcare Institute

31/01/2024 08:21

** Shares of healthcare services provider Max Healthcare
Institute  MAXE.NS  gain 7% to 788 rupees apiece after posting
rise in consolidated net profit in December quarter
    ** Profit rises ~30%, revenue from operations up 16.9%
year-on-year
    ** We continue to see positive trends on key parameters like
profitability per bed despite expected softness in occupancies
due to festive season, says Abhay Soi, chairman and managing
director of MAXE
    ** MAXE's management also expects to improve its performance
in Northern India following the recent acquisition of Sahara
Hospital in Lucknow, Uttar Pradesh
    ** The mean rating of the 16 analysts tracking MAXE is
"buy"; median target price at 706 rupees - LSEG data
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))