India's Max Healthcare rises on higher quarterly revenue

Max Healthcare Institute

Yesterday 04:09

** Shares of Max Healthcare MAXE.NS rise 3.9% to 893.65 rupees
** Hospital operator's Q2 revenue from operations rises 20.3% to 25.69 billion rupees ($270.83 million)
** Co's consolidated net profit fell to 4.15 billion rupees from 4.91 billion rupees a year earlier, due to the absence of a one-time tax benefit from a year ago
** Operational bed capacity rises 16% year-on-year to 5,518 beds, while occupied bed days increase 13%
** "Healthy volumes, improving payor mix and new-bed ramp-up should support earnings growth" - Citi
** Growth remains strong, but "EBITDA margin was flattish y-y due to Kalinga hospital acquisition, new bed additions at Saket, and lower oncology mix" - BNP Paribas
** YTD, stock down 16.5%



($1 = 94.8551 Indian rupees)

 (Reporting by Puyaan Singh in Bengaluru)
 ((puyaan.singh@thomsonreuters.com))