CHG Reports 440% Increase in 1Q22 Earnings Following Higher Revenue from Covid-Related Services

Chularat Hospital Public Company Limited (SET: CHG) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
1,356.40 251.79
Earning Per Share
0.1233 0.0229
% Change 438.71

CHG reported a net profit of Baht 1,356 million in 1Q22, increased 438% from a net profit of Baht 251 million in 1Q21.

In 1Q22, the company has revenues from hospital operations of Baht 3,571.4 million, increasing by Baht 2,156.6 million, or 152% YoY.

Revenue from general patients in 1Q22 increased by 79% YoY. The revenue from outpatients ( OPD) increased by Baht 407.3 million and inpatients ( IPD) increased by Baht 252 million mainly from the COVID-19 related services and alternative vaccination service, including a return of non COVID-19 patients (both local and International patients).

CHG’s gross profit margin increased from 29.70% to 52.34%, resulting in net profit margin increased from 17% to 37% YoY. Expenses in hospital operations increased in line with an increased revenue. The Company continues to have an effective cost management and cost control measures while maintaining the standard and quality of medical treatment services.