Rise in patients increases IHH’s net income by 31% in Q1

This yielded a total of RM 493.3 m net income.

Malaysian-based private healthcare network, IHH Healthcare, registered a net income of RM 493.3m, which is up by 31%, on a yearly basis, in the first quarter (Q1) of 2022 after the firm recorded a rise in patient volumes as well as lower net finance costs.

With its core operations and COVID-19 services, admissions of inpatient admissions went up by 19% whilst revenue intensity dropped 1.7%. For Q1, its average occupancy was at 52%.

The healthcare firm’s revenue grew by 6% year-on-year after it saw increase in key markets as well as rebound in domestic patient revenue. The increased operations of Gleneagles Hong Kong Hospital also helped in the revenue contribution.

Whilst its earnings before interest, taxes, depreciation, and amortisation increased by 4% due to higher revenue but it was partially offset by higher staff costs, operating expenses and lower government grants.

Looking ahead, IHH said there could be short-term headwinds as they wait for the full return of “business as usual” amidst rising staff costs and inflation.