IHH Healthcare posts 46% jump in Q3 profit to RM173m

Singapore

IHH Healthcare Berhad on Thursday reported a 46 per cent jump in net profit to RM173.3 million (S$56.3 million) for the third quarter ended Sept 30, on the back of higher revenue and a lower base effect.

While revenue grew 18 per cent to RM2.44 billion due to sustained organic growth at existing hospitals and contribution from new hospitals, the foreign exchange losses on Acibadem Holdings' non-Turkish lira borrowings also narrowed significantly over the year.

Stripping out exceptional items, net profit would have eased by 2 per cent to RM217.6 million on increased depreciation from new hospitals and higher net financing costs arisi…