India's Max Healthcare posts 39% rise in Q1 profit

Max Healthcare Institute

07/08/2023 11:39

BENGALURU, Aug 7 (Reuters) - India's Max Healthcare Institute  MAXE.NS  reported a nearly 39% rise in
its first-quarter profit on Monday, aided by increased bed additions.
    The healthcare services provider said consolidated profit rose to 2.40 billion rupees ($29 million) for the
quarter ended June 30 from 1.73 billion rupees a year earlier.
    Max Healthcare's bed occupancy stood at 74% during the quarter, while occupied bed days grew by 3%
year-on-year. 
    Revenue from operations for the quarter rose over 20% to 12.85 billion rupees.
    For further earnings highlights, click  urn:newsml:reuters.com:*:nFWN39O0YI
    
    KEY CONTEXT
    Demand for private healthcare in India has risen as government hospitals become increasingly overburdened,
analysts said. A post-pandemic boom in demand for private healthcare in India has also led to global investors
seeking entry into healthcare chains in the country.
    Max Healthcare's profit has risen sequentially for the last three quarters on higher bed occupancy and lower
input costs. 
    Peer Fortis Healthcare  FOHE.NS  on Friday posted a ~9% rise in its first-quarter profit. 
    
    PEER COMPARISON
    
    
                              Valuation (next    Estimates (next 12         Analysts' sentiment         
                                12 months)            months)                                           
                      RIC    PE     EV/EBITDA   Revenue     Profit    Mean     # of      Stock to       Div
                                                growth      growth    rating*  analysts  price          yield
                                                                                         target**       (%)
 Max Healthcare       MAXE.  39.67       26.50    31.98      12.67    Buy            12      0.95       NULL
 Institute Ltd        NS                                                                                
 Apollo Hospitals     APLH.  53.45       25.92    17.71      39.29    Buy            20      0.94           0.30
 Enterprise Ltd       NS                                                                                
 Fortis Healthcare    FOHE.  36.50       19.39    10.94      23.62    Buy            10      0.94           0.30
 Ltd                  NS                                                                                
 
    * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is
trading above the PT
    
    APRIL-JUNE STOCK PERFORMANCE
    
  
  
    -- All data from Refinitiv

-- $1 = 82.7290 Indian rupees
    
    
    
    
    
    


    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
APRIL-JUNE STOCK PERFORMANCE    https://tmsnrt.rs/3Qtyb48
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.Tandon@thomsonreuters.com;))