Max Healthcare Profit Falls 15 Percent on Tax Expenses
Max Healthcare Institute reported a 15.6 percent drop in second-quarter net profit to 4.15 billion rupees. The decline followed higher tax expenses compared with a tax benefit in the previous year. Revenue rose 20 percent amid expanding capacity.
Insights:
India's Max Healthcare Institute posted a 15.6% fall in second-quarter profit to 4.15 billion rupees ($43.64 million) on Friday morning. The drop followed a higher tax expense after the year-ago period benefited from a one-time tax credit. Revenue rose 20.3% to 25.69 billion rupees, driven by growing domestic demand and rising patient volumes.
