Max Healthcare Gains Over 2% After Board Approves Investment In Alps Hospitals

Share price of Max Healthcare gained more than two per cent on Thursday, August 26, a day after its board approved an additional investment in a wholly-owned subsidiary - Alps Hospitals Limited. On Thursday, Max Healthcare opened on the BSE at Rs 323, swinging to an intra day high of Rs 337, and an intra day low of Rs 323, in the trading session so far. On August 25, the company's board of directors approved an additional investment of Rs 50 crore by way of subscription towards Rights Issue of equity shares of Alps Hospitals.

In the April-June quarter of the financial year 2021-22, Max Healthcare reported an all-time high operating margin, according to a regulatory filing by the company to the stock exchanges. The company's gross revenues in the first quarter of the current fiscal stood at Rs 1,384 crore, registering a growth of 124 per cent year-on-year and 19 per cent quarter-on-quarter.

The network operating EBITDA (earnings before interest, tax, depreciation, and amortisation) improved to Rs 360 crore, compared to Rs 22 crore in the year ago period and Rs 263 crore in the preceding January-March quarter. This is the highest ever quarterly operating EBITDA for the company and represents the third consecutive quarter of EBITDA growth both in absolute and margin terms, according to Max Healthcare.

On the NSE, Max Healthcare opened at Rs 326.30, registering an intra day high of Rs 337.25, and an intra day low of Rs 324.30, in the session so far. It was last trading 2.23 per cent higher at Rs 331.95 on the NSE.

Shares of Max Healthcare were last trading 2.20 per cent higher at Rs 331.95 on the BSE.