KUALA LUMPUR, May 31 — KPJ Healthcare Bhd’s net profit fell to RM39.13 million in the first quarter (Q1) ended March 31, 2019 from RM42.48 million posted in the same quarter last year.

Revenue, however, rose five per cent to RM868.13 million from RM822.88 million, it said in a filing with Bursa Malaysia today.

It said the five per cent growth was reported in the Malaysia segment at RM839.3 million as at March 31, 2019 from RM797.4 million as at March 31, 2018, mainly contributed by an increase in the number of patient visits and surgeries, especially for KPJ Rawang, KPJ Pasir Gudang and KPJ Johor.

"In addition, the newly-opened hospitals, KPJ Perlis and KPJ Bandar Dato’ Onn, are also contributing factors to the double-digit increment in revenue for the period,” it added.

The group said its earnings before interest, taxes, depreciation and amortization for Malaysia had noticeably increased from RM114.9 million during the Q1 2018 to RM151.1 million in this quarter, mainly contributed by lease rental which has been excluded from administrative expenses, as a result of the adoption of the Malaysian Financial Reporting Standard 16 in this quarter.

As at Q1 2019, KPJ Healthcare’s total assets stood at RM5.66 billion, with liabilities at RM3.82 billion.

On prospects, the group said it was confident of achieving targets and further its vision of becoming the preferred healthcare provider, with continuous monitoring over operational excellence and a focus on revenue growth along with disciplined cost management. — Bernama