Chularat Hospital Public Company Limited (SET: CHG) has announced its 3Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss)
Million Baht |
272.14 | 417.41 |
| Earning Per Share
(Baht) |
0.0247 | 0.0379 |
| % Change | -34.80 | |
| 9 Months | 2025 | 2024 |
| Net Profit (Loss)
Million Baht |
705.12 | 873.63 |
| Earning Per Share (Baht) | 0.0641 | 0.0794 |
| % Change | -19.29 | |
During the third quarter of 2025, CHG reported a net profit of THB 272.1 million, decreasing by THB 145.3 million, or 34.8% year-on-year. Net profit margin decreased from 18% to 13%.
The company had revenues from hospital operations of THB 2,142.3 million, decreasing by THB 166.9 million, or 7.2% year-on-year, driven by the decline in revenue from the government welfare scheme.
- Revenue from general patients in 3Q25 increased by 3% year-on-year, driven by growth in the outpatient (OPD) segment, which rose by THB 82.75 million, while inpatient (IPD) revenue decreased by THB 39.08 million. Revenue across all branches continued to grow, particularly revenue from international patients. In addition, revenue from the Cancer Center increased, supported by a higher number of patients. However, revenue in certain specialized centers experienced a slowdown, particularly in the Bariatric Surgery and Heart Centers.
- Revenue from the Social Security scheme in 3Q25 decreased by 25% year-on-year, mainly due to the high base of medical treatment income for 26 chronic diseases recognized in 3Q24, whereas those for the current year were recognized in 2Q25. In addition, the medical treatment income for severe cases (high-cost care, AdjRW >2), particularly revenue from gastric surgeries, declined compared to the same period last year, representing another key factor contributing to the decrease in revenue from the Social Security scheme for this quarter.
- Revenue from other governmental schemes in 3Q25 decreased by 18% year-on-year. The primary factors were the declines in revenue from the Heart and Cancer Centers, driven by lower patient volumes compared to the same period last year. Meanwhile, revenue from emergency services under the UCEP program (Universal Coverage for Emergency Patients or Life-threatening Emergency Illness) remained relatively stable, at levels close to those recorded last year.
- Other revenue decreased by THB 61.4 million from the termination of the hospital management service contract with the government hospital.
Hospital operating expenses decreased by THB 54 million compared to the same period last year, in line with a decline in revenue. The reduction was observed across drug and medical supply costs, physician fees, and the management of medical staff schedules to align with actual patient volumes, as well as other expenses related to patient care. Additionally, the discontinuation of the Pattaya City Hospital project helped reduce personnel-related cost burdens. However, despite the cost reduction, gross profit margin did not improve, as overall revenue remained below the level recorded in the same period last year.
Administrative expenses in 3Q25 increased by THB 7.8 million compared to 3Q24. The increase was primarily driven by higher wage rates aimed at retaining and attracting quality personnel, expanded marketing budgets to support revenue growth, and higher general expenses associated with the product and service expansion.
