HEAL's net profit grow by 112.5% YoY thanks to BPJS patients
JAKARTA. PT Medikaloka Hermina Tbk (HEAL), owner of the Hermina Hospital chain, generated Rp 80.2 billion in net profit in the third quarter (Q3) 2019.
HEAL's net profit rose by 112.5% year on year (YoY) or when compared to the figure recorded in Q3 2018. Profit in Q3 2019 was supported by the company's revenue, which grew by 16.4% YoY to Rp.899.6 billion.
Lakshmi Rowter, an analyst at Mandiri Sekuritas, said that the company's financial performance in Q3 was also supported by the growth in the number of patients who were members of the Social Security Organizing Agency (BPJS). The growth reached 19% YoY in Q3.
"Almost all outpatients are BPJS members, while the growth of non-BPJS patients is still stagnant," Rowter said through an official statement.
In addition, Rowter assessed the growth of HEAL performance in Q3 was supported by trends in the health service industry in Indonesia. So that in Q4 2019, HEAL's revenue growth is expected to be stable with an EBITDA margin of around 20%. (KR/AR)