Max Healthcare posts Q1 consolidated net profit of Rs 146.92 crore

Max Healthcare Institute on Tuesday reported a consolidated net profit of Rs 146.92 crore for the quarter ended June 30, 2021.

The company had posted a net loss of Rs 314.25 crore for the corresponding period of the previous fiscal, Max Healthcare Institute said in a regulatory filing.

Consolidated total income of the company stood at Rs 1,026.13 crore for the quarter under consideration. It was at Rs 275.58 crore for the same period a year ago, it added.

"We are proud of the role our doctors and paramedical staff have played in the fight against COVID-19, including accelerating the inoculation drive in the country. Overall, we believe we are well placed to deliver consistent growth by adhering to the highest standard of clinical excellence," Max Healthcare Institute Chairman and MD Abhay Soi said.

The board of the company has also approved infusion of funds worth up to Rs 150 crore in one of its subsidiary companies, Radiant Life Care Mumbai Pvt Ltd. This will be done by way of investment in equity/ preference shares/ loan in one or more tranches, the filing said.

Currently, Max Healthcare Institute has a network of 17 healthcare facilities.

Shares of the company rose nearly six per cent to close at Rs 303.20 on BSE.