KPJ Healthcare Bhd’s net profit fell 45 per cent to RM6.96 million in the second quarter (Q2) ended June 30, 2021, from RM12.66 million a year ago.
However, revenue rose 33 per cent to RM632.8 million in Q2 from RM475.85 million last year due to the better operational performance, aided by a less restrictive Movement Control Order (MCO) 3.0 effective in the quarter.
For the period of six months ended June 30, 2021, KPJ Healthcare’s net profit decreased 61 per cent to RM19.93 million from RM51.19 million, while revenue rose nine per cent to RM1.24 billion from RM1.14 billion last year.
The increase in revenue was due to an increase in hospital activities and a higher number of patients.
The company’s first half of the financial year 2020 (1H20) was dragged down by MCO 1.0, which resulted in some of the lowest patient volumes recorded post-pandemic, though the initial three months of 1H20 were not affected by MCO.
KPJ Healthcare recorded a total of 1.5 million patients for 1H21 compared to 1.4 million patients for 1H20.
On the prospect, KPJ Healthcare said although economic and business activities have resumed, restricted cross-border movements and tighter standard operating procedures (SOP) continue to weigh on recovery efforts across the company’s business operations.
Nevertheless, the company will remain vigilant and focused on delivering its services while protecting its cash position to ensure it remains resilient during these unprecedented times.
“As the healthcare ecosystem is being challenged to pivot, adapt, and innovate quickly, our focus will cover greater adoption of virtual health and other digital innovations, as well as new public-private collaborations.
“This includes several initiatives to actively relieve pressure on public hospitals via decanting non-Covid-19 cases and offering more than 100 different services and procedures to the public hospitals, based on a cost-recovery formula to ensure affordability.
“The company believes that post-pandemic normalcy will see greater demand for its healthcare services and solutions,” it added. – NST ONLINE
