IHH Healthcare's net profit in the third quarter rose 15% to 616 million ringgit | Lianhe Zaobao

IHH Healthcare released its third-quarter results for the period ending September 30 on Wednesday (November 26), reporting a net profit increase of 15% year-on-year to MYR 616 million (approximately SGD 194.3 million), with earnings per share of MYR 0.0697. Thanks to strong business performance in key markets such as Malaysia and India, the group's third-quarter revenue rose 16% year-on-year to MYR 6.57 billion. Among them, revenue in the Malaysian market grew 18% year-on-year to MYR 1.261 billion; however, revenue in the Singapore market declined by 4% to MYR 1.487 billion. The company stated, "The Malaysian market has made significant progress in controlling payor pressure and cost inflation, as well as transitioning to a more efficient capital usage model and a day-care-centric model." Additionally, the revenue contribution from the Malaysian private hospital chain Island Hospital, which the company acquired, has also enhanced IHH Healthcare's share in the medical tourism business. In the Indian market, Fortis Healthcare, a subsidiary, signed an operations and maintenance service agreement with Gleneagles India, which has improved efficiency and created growth opportunities. Further Reading IHH Healthcare's first-quarter net profit fell 33% to MYR 514 million Moreover, IHH Healthcare's earnings before interest, taxes, depreciation, and amortization (EBITDA) for its Singapore operations decreased by 6% year-on-year to MYR 422 million. The company attributed this profit decline to rising costs and the adverse impact of phased openings during the renovation of Mount Elizabeth Orchard Hospital. The company stated that as the revenue contribution from Mount Elizabeth Hospital gradually increases, it is expected to stabilize by the second quarter of 2026, coupled with the successful expansion of outpatient care services, leading to a gradual improvement in revenue in the Singapore market. Looking ahead, IHH Healthcare remains optimistic about the growth in healthcare demand in key markets such as Malaysia, India, and Singapore, and is confident about its growth prospects. IHH Healthcare's stock price closed at MYR 2.51 on Wednesday, unchanged