KUALA LUMPUR, Nov 26 — KPJ Healthcare Bhd recorded higher revenue of RM698.96 million in the third quarter ended September 30, 2021, up 10 per cent from RM633.44 million in the same quarter last year.
The better revenue was due to higher patient volumes driven by the easing of the movement control order (MCO) restrictions and implementation of the National Recovery Plan (NRP), KPJ Healthcare said in a statement today.
It said patient visits increased to 782,732 in the quarter under review from 736,255 in the corresponding quarter of 2020.
The healthcare group posted a net profit of RM12.64 million from RM33.97 million a year earlier.
KPJ Healthcare said its earnings before interest, taxation, depreciation, and amortisation (EBITDA) during the quarter under review stood at RM147.9 million, up by 27 per cent from RM116.9 million in the second quarter of this year.
It said profit before tax surged to RM43.4 million from RM14.2 million in the immediate preceding quarter.
“The more robust EBITDA and pre-ax profit performance was driven by higher revenue performance and rental rebates enjoyed under incentives from Al-’Aqar Healthcare Real Estate Investment Trust,” the group said.
For the nine-month period ended September 30, 2021, KPJ Healthcare posted revenue of RM1.94 billion, up nine per cent year-on-year mainly due to active collaboration with the public healthcare sector to treat Covid-19 patients, higher Covid-19 screenings, laboratory testing and vaccination services.
“Revenue was also supported by an improvement in hospital activities from the relaxation of the MCO and implementation of NRP,” it added.
Looking ahead, the group said it remained cautious of its outlook for the short term on the back of adverse macroeconomic conditions, exacerbated by slow recovery from the global coronavirus outbreak.
“KPJ Healthcare is steadily paving the way for continuous growth in the group by focusing on the rollout of its continuous improvement programmes, which are envisioned to lead to increased operational efficiencies, from central procurement initiatives for services and equipment, as well as introducing innovative technologies, all of which will add to our cost-saving strategies.
“This will further strengthen our businesses against any operational headwinds faced by the challenging market environment for the rest of this financial year,” it added. — Bernama