KPJ Healthcare 3Q net profit soars to RM90.31 mln

KUALA LUMPUR: KPJ Healthcare Bhd's net profit for the third quarter ended Sept 30, 2023 rose to RM90.31 million from RM50.69 million in the same period last year.

Revenue for the quarter under review increased to RM925.39 million from RM798.75 million previously, due to a rise in inpatient visits to 96,968 patients from 85,655 patients, coupled with the growth in bed occupancy rate to 73 per cent from 66 per cent.

It said the better performance was mainly driven by the improved hospital activities in the Malaysia segment and a gain of RM41.5 million from the disposal of Indonesia operations during the current quarter.

For the first nine months of 2023, the group's net profit surged to RM189.15 million from RM99.90 million, while revenue improved to RM2.55 billion from RM2.14 billion previously.

In a Bursa Malaysia filing today, the specialist healthcare provider said that the financial year 2023 has seen an overall increase in the number of patient visits and medical procedures as compared to 2022 as the current period normalised.

"The group anticipates that the remaining quarter will also see strong results, albeit the expected year-end trend which generally shows a drop in patient visits.

"KPJ will continue to be a beneficiary of long-term structural trends including rising private healthcare expenditure in line with higher income and ageing population," it added.

-- BERNAMA