Max Healthcare Institute Ltd (MHIL) has posted a quantum leap in net profit to ₹109 crore for the fourth quarter ended March 30, 2021, compared to ₹45 crore recorded during the corresponding period last year.

During the quarter, the private sector healthcare services firm’s gross revenue rose to ₹1,159 crore, from ₹1,100 crore shown during the corresponding year-ago period. Its net debt fell to ₹544 crore following a Qualified Institutional Placement (QIP) from ₹2,102 crore recorded in previous year quarter, the company said in a statement.

In March, the company had raised ₹1,200 crore through a QIP.

MHIL Chairman and Managing Director Abhay Soi said, “With ample room to scale up existing occupancies and improved international revenue share post abatement of the second surge of Covid-19, the fourth quarter results in a way indicate the trajectory our network is geared for in terms of future performance”.

“Overall, we closed FY21 with ₹3,629 crore in net revenue and recorded the highest annual operating EBITDA of ₹636 crore, despite a challenging year due to Covid-19 pandemic. The QIP fortified our balance sheet for pursing inorganic growth. Besides serving on the frontline on Covid-19, we operationalised one of the largest vaccination centres (at BLK-Max Hospital) in the country spread over 1.65-acre in a matter of 48 hours in the National Capital. This centre alone has a capacity to administer about 10,000 vaccines daily,” he added.

As of May 15, 2021, the company treated over 31,000 Covid-19 patients at hospitals and 3,500 patients at home and extended care facilities, conducted 5.4 lakh RT-PCR tests and administered 1.4 lakh Covid-19 vaccines.

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