Explore Business Standard
Don’t miss the latest developments in business and finance.
Max Healthcare
Max Healthcare Institute on Wednesday said its profit after tax increased by 58 per cent to Rs 172 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 109 crore for the January-March quarter of 2020-21 fiscal. Gross revenue rose to Rs 1,298 crore for the period under review as compared with Rs 1,161 crore in the year-ago period, Max Healthcare Institute said in a regulatory filing. For the year ended March 31, 2022, the healthcare provider posted a net profit of Rs 837 crore. It had reported a net loss of Rs 95 crore in FY21 fiscal. "Overall, FY22 has been an eventful year where despite numerous challenges, there is a marked improvement in the network performance," Max Healthcare Institute Chairman and MD Abhay Soi said in a statement. As part of the company's inorganic growth strategy, it has announced four transactions, including purchase of two prime land parcels in Gurugram, he noted. "These will have a combined potential to add 2,200 be
Max Healthcare Institute on Friday said it has inked a deal to acquire Eqova Healthcare, a company with long-term exclusive rights to aid development and provide medical services to an upcoming 400-bed hospital. The hospital, which is owned by Nirogi Charitable and Medical Research Trust, will come up at Patparganj, Delhi. "This new hospital will allow us to cater to the need for quality healthcare of the East Delhi community and fortify our network footprint in NCR in a synergistic manner. "It will further enable us to bring high-end clinical programmes and technologies to the region and also help us to continue serving the indigent patient community," Max Healthcare Institute Chairman and Managing Director Abhay Soi said in a statement. The healthcare provider said it aims to acquire the firm by way of upfront purchase of 26 per cent stake, with an Escrow mechanism set up for additional 34 per cent, under call/put options, to be exercised linked to achievement of certain ...
Max Healthcare Institute on Monday said it plans to invest around Rs 1,600 crore to expand its capacity in the national capital region by adding around 1,000 beds in Gurugram, Haryana. The company, "is further fortifying its presence and expanding its bed capacity in NCR by addition of two hospitals of around 500 beds each in Gurugram," Max Healthcare Institute said in a regulatory filing. The Max Healthcare board approved the expansion plan in a meeting held earlier in the day, it added. "The overall investment is expected to be approximately Rs 1,600 crore. The expansion plan is proposed to be funded by internal accruals, borrowings and / or such other modes as may be permitted under the applicable laws," Max Healthcare Institute said. For the two hospitals, two land parcels measuring around 6.11 acres and around 5.26 acres are being allotted by HSVP (Haryana Shahri Vikas Pradhikaran) post successful bid by the company in a recent HUDA auction, it added. "The two newly acquired
Max Healthcare on Friday reported 31.11 per cent rise in consolidated profit after tax (PAT) at Rs 69.69 crore for the quarter ended March 31, 2021. The company had posted a PAT of Rs 53.15 crore for the corresponding period of the previous fiscal year, Max Healthcare Institute said in a filing to BSE. Revenue from operations stood at Rs 801.86 crore for the quarter under review. It was Rs 247.86 crore in the same period a year ago, it added. For the fiscal year ended March this year, the company posted a loss of Rs 137.55 crore as against a PAT of Rs 58.99 crore in 2019-20, the filing said. Revenue from operations stood at Rs 2,504.67 crore in the last fiscal year. It was Rs 1,059.03 crore in 2019-20, it added. Net debt during the quarter reduced by Rs 1,323 crore to Rs 544 crore on account of net proceeds of QIP and cash flow from operations, Max Healthcare said. "With ample room to scale up existing occupancies and improved international revenue share post abatement of the se