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Informist, Wednesday, Aug. 13, 2025

--Max Health Apr-Jun consol net profit INR 3.08 bln 

--Analysts saw Max Health Apr-Jun consol net profit INR 3.74 bln 

--Max Health Apr-Jun consol PAT INR 3.08 bln vs INR 2.36 bln year ago 

--Max Health Apr-Jun consol revenue INR 20.28 bln vs INR 15.43 bln year ago 

--Max Health to invest INR 1.7 bln-INR 2.0 bln to set up hospital in Dehradun 

--Max Health Q1 free cash from operations INR 3.89 bln vs INR 2.58 bln yr ago 

--Max Health Apr-Jun consol operating EBITDA INR 5.50 bln 

--Max Health Apr-Jun overall occupancy 76% vs 75% year ago 

--Max Health Q1 intl patient revenue INR 2.08 bln vs INR 1.58 bln year ago 

By Shakshi Jain

NEW DELHI - Max Healthcare Institute Ltd. Wednesday posted lower-than-expected earnings for the June quarter even though its year-on-year bottom line growth for the three-month period was the strongest in eight consecutive quarters. The company's top line growth, which was at a three-quarter low in Apr-Jun, also missed analysts' consensus estimate. 

Max Healthcare reported a consolidated net profit of INR 3.08 billion for the June quarter, up over 30% on year but down 3.5% sequentially. Its revenue during the three months rose over 31% on year and more than 6% sequentially to INR 20.28 billion. Analysts had expected the company to report a bottom line of INR 3.74 billion alongside a top line of INR 24.31 billion. 

Max Healthcare's total expenses in the June quarter rose over 32% on year to INR 16.64 billion. This was led by a near 38% on-year rise in expenses tied to purchase of drugs, consumables, and implants to INR 4.54 billion. The company's costs related to professional and consultancy fees increased over 30% on year to INR 4.26 billion in Apr-Jun while other expenses rose nearly 28% to INR 2.95 billion. Max Healthcare's employee benefit expense in the June quarter stood at INR 3.38 billion, up 25% on year. The company's tax outgo for the quarter grew almost 9% on year to INR 925 million.

Free cash from operations in the June quarter totalled INR 3.89 billion, up from INR 2.58 billion a year ago. Max Healthcare deployed INR 4.35 billion during the quarter towards ongoing expansion plans and upgradation of facilities at newer units, the company said in a statement. In addition, INR 1.31 billion was spent towards purchase of land for expansion of Max Super Speciality Hospital, the company added.

Max Healthcare's consolidated operating earnings before interest, tax, depreciation, and amortisation in Apr-Jun stood at INR 5.50 billion while the EBITDA per bed was INR 6.85 million, down from INR 7 million a year ago. During the reporting quarter, the overall occupancy stood at 76%, up marginally from 75% a year ago. Max Heathcare's revenue from international patients was INR 2.08 billion in Apr-Jun, up from INR 1.58 billion in the year-ago quarter.

The company's board approved the execution of an agreement to lease with Goyal Agrim Infra Realty LLP to set up a 130-bed hospital at Dehradun in Uttarakhand on a built-to-suit basis. "The proposed facility will be situated ~100 meters from the company's existing 220 beds hospital, operational since 2012. Scheduled for commissioning in 2028, the new hospital will, among other specialties, focus on advanced oncology services, including radiation therapy," Max Healthcare said. 

At 1446 IST, shares of the company traded at INR 1,266.10 on the National Stock Exchange, up 0.4%.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Vandana Hingorani

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