India's Max Healthcare Institute reports 38% rise in Q2 pre-tax profit

(BENGALURU), Nov 6 (Reuters) - Indias Max Healthcare Institute (MAXE.NS) on Monday reported a 38% rise in its second-quarter profit before tax, as it earned more revenue per bed.

The hospital and diagnostic services providers consolidated profit before tax for the quarter ended Sept. 30 stood at 3.66 billion rupees ($43.99 million) compared with 2.65 billion rupees a year ago.

Max Healthcares average revenue per occupied bed (ARPOB) was 74,600 rupees in the second-quarter, up 13% year-on-year.

Max Healthcare is the first to report the September-quarter results among its peer hospital chains, with Fortis Healthcare (FOHE.NS), Apollo Hospitals Enterprise (APLH.NS) and Aster DM Healthcare (ATRD.NS) due to announce results in the coming days this week.

Analysts had expected higher occupancy and growth in average revenue per occupied bed for Max Healthcare. The improvement in these operating parameters would also help towards capital allocation for bed capacity expansion, per analysts.