IHH Healthcare net profit down by 45% to $163m in Q1

Lower PATMI is due to a high base in the corresponding quarter of the previous year.

IHH Healthcare’s profit after taxation and minority interests (PATMI) declined by 45% to $163m (RM768m) in this year’s first quarter (Q1).

According to the group, the lower headline net profit is due to a high base in Q1 2023, which included one-off gains of $182.8m (RM862m) from the sale of the International Medical University (IMU).

Meanwhile, the group’s Q1 revenue went up by 16% to $1.3b (RM6b) with earnings before interest, taxes, depreciation, and amortisation (EBITDA) increasing by 19% to $297m (RM1.4b).

The growth was attributed to a sustained patient volume with the group providing more complex treatment services.

RM1 = $0.21