BDMS 3Q23 Net Profit Rises 15% as Foreign Patients Show Steady Growth

Bangkok Dusit Medical Services PCL (SET: BDMS) reported its Q3 financial result on 13 November with the details as follows.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
3,890.13 3,385.61
Earning Per Share
0.2400 0.2100
% Change 14.90
9 Months 2023 2022
Net Profit (Loss)
Million Baht
10,423.50 9,492.79
Earning Per Share (Baht) 0.6600 0.6000
% Change 9.80


BDMS’s Q3 net profit was THB 3,890 million, a 14.9% increase YoY, due to recovery of Thai and international patients together with lower depreciation and positive impact from additional stake in Samitivej Public Company Limited (“SVH”) resulting in decrease in non-controlling interests in subsidiaries.


BDMS reported its highest ever quarterly consolidated operating income of THB 26,699 million, an increase of 11% YoY. The growth was attributable to an increase in revenue from hospital operations of 12% YoY which was driven from international patient revenues growth of 19% YoY and Thai patient revenues growth of 9% YoY.


The Company and its subsidiaries reported EBITDA of THB 6,594 million, increased by 10% YoY and net profit of THB 3,890 million, increased by 15% YoY due to recovery of Thai and international patients, together with good financial management resulting in an increase in interest income and decrease in interest expense.


In 3Q23, the Company and its subsidiaries reported total operating expenses & depreciation of THB 21,575 million, an increase of THB 2,100 million or 11% YoY. The total operating expenses & depreciation increased mainly from higher doctor fees given the growth in revenue from hospital operations and higher clinical & non-clinical staff expenses together with an increase in marketing, utility and other administration expenses.