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Max Healthcare suffers Rs 137.55 cr loss in FY21 despite revenue growth

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 second surge of COVID-19, Q4 results in a way indicate the trajectory our network is geared for in terms of future performance,” Max Healthcare Institute Chairman and MD Abhay Soi said.

“As we enter into the new fiscal year, I am confident to continue our robust performance and gain further traction as one of the most trusted healthcare service providers in India,” he added.

Shares of Max Healthcare Institute settled at Rs 224.65 per scrip on BSE, down 2.81 per cent from its previous close. PTI