IHH Healthcare posts record RM6b revenue in 1Q24

Revenue growth is credited to higher patient volume and complex cases.

IHH Healthcare posted its highest-ever quarterly revenue in 1Q24, reaching the RM6b ($1.7b) mark for the first time. Compared to 1Q23,  revenue rose 16% YoY.

The healthcare provider attributed its revenue growth to “sustained patient volume and taking on more acute, complex cases.”

The hospital recorded 218,981 inpatient admissions in 1Q24.

Apart from revenue, IHH Healthcare’s earnings and profit excluding exceptional items also saw double-digit growths, rising 19% YoY to RM1.4b ($401.9m) and 33% YoY to RM402.8m ($115.6m), respectively.

IHH’s headline profit, however, fell 45% YoY to RM768.0m ($19.5m) due to the high base in 1Q23 when there was one-off gains of RM862.0m ($247.4m) from the sale of International Medical University (IMU).