CHG Reports 10% Net Profit Growth in 1Q24 as Revenue from Hospital Operations Improves

Chularat Hospital Public Company Limited (SET: CHG) has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)

Million Baht

263.97 240.40
Earning Per Share


0.0240 0.0219
% Change 9.80


CHG reported a net profit in 1Q24 of Baht 264.0 million, increasing by Baht 23.6 million, or 10% compared to the same period last year.

In 1Q24, the company had revenues from hospital operations of Baht 2,021.2 million, increasing by Baht 305 million, or 18% compared to the same period last year, with details as follows:

  • Revenue from general patients increased by 19% YoY, divided into revenue from outpatients (OPD), which increased by Baht 99.1 million, and inpatients (IPD), which increased by Baht 109.5 million, mainly from the return of existing customers, new customer groups from providing medical services for complicated diseases, and customer base expansion from the opening of new hospitals and the acquisition of an elderly care center.
  • Revenue from the Social Security scheme in 1Q24 increased by 11% YoY, driven by the increased number of the registered members and the increased medical treatment income of inpatients with High Cost Care (Adj.RW>2).
  • Revenue from other governmental schemes in 1Q24 increased by 69% YoY, mainly from the medical treatment for heart disease and UCEP (Universal Coverage for Emergency Patients).

Gross profit margin increased from 25.64% to 25.87%. Major hospital operating expenses are doctor fee, nurse fee, drugs and medical supplies, including depreciation and others. The company always manages these expenses within an appropriate level.