KPJ released its Q3 2023 financial results with revenue increasing by 16% to RM925.4 million from RM798.7 million in Q3 2022 due to a rise in the inpatient visits to 96,968 patients from 85,655 patients, coupled with the bed occupancy rate (“BOR”) increased to 73% from 66% respectively.
EBITDA and profit before tax improved in Q3 2023 by 29% and 50% to RM254.8 million and RM133.1 million respectively. Profit after tax was higher at RM90 million against the RM50 million it achieved in the previous year. The group said the performance was mainly driven by the improved hospital activities in the Malaysia segment accompanied by a gain of RM41.5 million from the disposal of Indonesia operations during the current quarter.
Malaysia operations recorded a revenue of RM888.1 million in the current quarter, 15% higher than the revenue of RM775.2 million in the preceding corresponding quarter. Total inpatient visits for this segment rose by 12% from 83,529 patients to 93,512 patients together with the 14% improvement in inpatient days from 202,683 days in Q3 2022 to 230,824 days in the current quarter under review. KPJ Damansara 2 and KPJ Penang showed the highest revenue increase, as they are a newly opened hospital and building block respectively.
EBITDA for the current quarter improved by 21% to RM253.2 million compared to RM209.9 million for the same quarter in 2022 while PBT at the same time rose by 29% to RM139.1 million. These increases contributed mainly from the gain on disposal of PTABSD and KPJM
and improvement in business activities.
