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HEALTHCARE | Staff Reporter, Singapore

IHH Healthcare's 3Q profit surged 46% to $35.8m

Topline expands 18.4% to $423m.

IHH Healthcare Berhad reported a 46% rise in its net profit to RM173.3m (S$35.8m) for 3Q ending Sept 30, thanks to higher revenue and a lower base effect.

Its revenue is up 18%t to RM2.44b ($423m) 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% to RM217.6m ($45m) on increased depreciation from new hospitals and higher net financing costs arising from a larger asset base.

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