IHH Healthcare has reported a patmi of RM768 million ($220 million) in 1QFY2024, down 45% y-o-y due to the absence of one-off gains.
The same period last year saw one-off gains of RM862 million from the sale of International Medical University. Excluding exceptional items, patmi was up 22%.
In 1QFY2024, IHH recorded its highest ever quarterly revenue at RM6 billion, up 16% y-o-y, while ebitda grew 19% y-o-y to RM1.4 billion. This is attributed to sustained patient volume as well as the take of more acute, complex cases.
As at March 31, overall cash balance stood at RM2.2 billion, with net cash from operating activities at RM831.3 million.
Overall, IHH expects continued revenue growth fuelled by healthcare megatrends and will focus on driving profitability and sustaining healthy return on equity while maintaining prudent capital management and mitigating inflationary and interest rates pressures.
Shares in IHH closed 3 cents lower or 1.66% down on May 29 at $1.77.
