Max Healthcare climbed nearly 5.5 percent on Wednesday, November 2 after the company reported a profit after tax of ₹511 crore for the second quarter of the 2022-23 fiscal, as its revenues grew nine per cent to ₹1,567 crore, reported Business Standard.
During Wednesday’s trade, the stock opened at a price of Rs. 460.10 per share against the previous close of ₹457.10 and rallied further to record a new 52-week-high of ₹482.80 during the early trading session. It surpassed the previous high of ₹472.60, which it had touched on September 16, 2021.
The stock has returned almost 14 percent to its shareholders in past one month. In the past one months, it gave a positive return of over 37 percent. Furthermore, the stock zoomed nearly 320 percent in the last five years.
On Tuesday, November 2, Max Healthcare Institute (MHIL) posted a profit after tax of ₹511 crore for the second quarter of the 2022-23 fiscal, as its revenues grew nine per cent to ₹1,567 crore. The growth in Q2FY23 revenue and Operating EBITDA was driven by higher occupancies, improved payor mix, reported Business Standard.
In Q2FY23, Max Healthcare reported highest-ever gross revenue of ₹1,567 crore, up 9 per cent year-on-year (YoY) and 6 per cent quarter-on-quarter (QoQ). On a like-to-like basis, the gross revenue for the quarter reflects a growth of 17 per cent YoY, the official report stated.
The Network Operating EBITDA stood at ₹410 crore compared to ₹362 crore in corresponding quarter last year (Q2FY22) and ₹370 crore in the previous quarter (Q1FY23). At the end of Q2FY23, the Net Cash surplus stood at ₹42 crore, compared to Net Debt of ₹217 crore at the end of Q1FY23.
"The performance for Q2FY23 is as per our expectations and reflects the focus on execution across the organization in line with our articulated strategy", Abhay Soi, Chairman and MD, Max Healthcare Institute stated.
Max Healthcare Institute Ltd., established in 2001, is a Small Cap company with a market capitalisation of Rs. 44,389.86 crore operating in the Hospitals & Allied Services industry. The company is specialized in providing treatment for cancer care / oncology, cardiac sciences, neurosciences etc. Max@Home is a platform that provides health and wellness services at home and MaxLab offers pathology services to patients outside of its hospitals through a variety of channels, including third-party hospital laboratory management.
According to a Mintgenie poll, an average of 8 analysts have a ‘STRONG BUY’ call on the stock.