Higher patient load drives IHH Healthcare's net profit up by 9% to $75.4m

New hospitals also drove growth.

IHH Healthcare's impressive Q2 results showed that Southeast Asia's largest hospital operator remains in the pink of health.

The group's net profit rose 9% year-on-year to $75.4m (RM228.1m) during the period, driven by strong inpatient revenue growth and income contribution from a number of new hospitals.

According to DBS, IHH Healthcare is expected to deliver stable growth in coming quarters on back of strong healthcare demand in Singapore and Malaysia.

“Management remains fairly confident of attracting foreign patients and indicated that despite the weakening of regional currencies impacting traditional sources of patients (i.e. Indonesians, Malaysians), its efforts to reach other nationalities have paid off. It now sees more complex cases of Middle Eastern patients which aid in revenue intensities for its Singapore operations,” DBS said.