Healthcare Network P&L Statement and Expansion Projects
MAX
Healthcare
Network P&L Statement: Q2 FY24
Gross revenue
Net revenue
Direct costs¹
Figs in INR Cr
Q2 FY23
Q1 FY24
Q2 FY24
Amount
% NR
Amount
% NR
Amount
% NR
1,567
1,719
1,827
1,482
100.0%
1,629
100.0%
1,732
100.0%
575
38.8%
650
39.9%
667
38.5%
907
61.2%
979
60.1%
1,065
61.5%
497
33.5%
543
33.3%
567
32.8%
Contribution
Indirect overheads²
Operating EBITDA (post Ind AS-116)
410
27.7%
436
26.8%
497
28.7%
ESOP (Equity-settled scheme)
5
0.4%
12
0.7%
12
0.7%
Movement in fair value of contingent consideration payable
and amortisation of contract assets³
6
0.4%
7
0.4%
7
0.4%
Reported EBITDA
399
26.9%
417
25.6%
478
27.6%
Finance cost (net) 4
14
0.9%
(3)
(0.2%)
(17)
(1.0%)
Depreciation and amortisation
64
4.3%
64
3.9%
66
3.8%
Profit before tax
321
21.7%
356
21.9%
429
24.8%
Tax5
(190)
Profit after tax
511
(12.8%)
34.5%
66
4.0%
91
5.3%
291
17.8%
338
19.5%
1.
2.
Direct costs are lower compared to Q1 FY24 due to increase in medical patients on account of seasonal vector borne diseases
Increase in Indirect overheads over Q1 FY24 is mainly attributed to S&M costs for international patients and seasonal increase in power consumption
3.
4.
This is a non-cash item representing change in fair value of contingent consideration payable to Trust / Society over the balance period (~20 to 31 years) under O&M Contracts and
mainly represents impact of changes in the time value of discounted liability
Net of interest income on deposits & tax refunds and includes forex gain / loss, etc. Movement compared with Q1 FY24 is attributed to cash flow from operations and interest
capitalisation on projects underway
5.
Effective tax rate in Q2 FY24 stood at 21.2%, compared to 18.4% in Q1 FY24, due to increase in medical service fees and O&M fees
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