Chularat Hospital Public Company Limited (SET: CHG) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
192.26 | 206.04 |
| Earning Per Share
(Baht) |
0.0175 | 0.0187 |
| % Change | -6.69 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
456.22 | 446.44 |
| Earning Per Share (Baht) | 0.0415 | 0.0406 |
| % Change | 2.19 | |
CHG reported a net profit in 2Q24 of Baht 192.3 million for 2Q24, decreasing by Baht 13.7 million, or 7% compared to 2Q23, with a total revenue of THB 2,055.7 million, an increase of 10% or THB 187.4 million compared to the same period last year.
Revenue from general patients in 2Q24 increased by 14% YoY. The revenue from outpatients (OPD) increased by Baht 79.7 million and inpatients (IPD) increased by Baht 77.6 million, mainly from the increasing numbers of existing and new customers from providing medical services for complicated diseases, including customer base expansion from the opening of new hospitals and an elderly care center.
Revenue from the Social Security scheme in 2Q24 decreased by 2% YoY, driven by the impact of the notification from the Social Security Office regarding the decreased payment for medical treatment income of inpatients with High Cost Care (Adj.RW>2) for 4Q23. (The payment was reduced from Baht 12,000 per Adj.RW to Baht 7,200 per Adj.RW, resulting in revenue reversal in 2Q24. ) However, other SSO revenues continue to grow, including the increasing number of registered members.
Revenue from other governmental scheme in 2Q24 increased by 109% YoY, mainly from the medical treatment for heart disease, cancer and UCEP (Universal Coverage for Emergency Patients).
Other revenue in 2Q24 increased by Baht 0.6 million from management services provided to government hospitals.
Gross profit margin for the period decreased from 23.25% to 21.51%, mainly due to the increasing hospital operating expenses from an employee compensation adjustment, the increasing number of medical personnel to support the business growth, the acquisition of medical equipment, the additional specialized medical teams in various fields, as well as the service area expansions and the opening of new hospitals.
As for 6M24, the company’s net profit was Baht 456.2 million, increasing by Baht 9.8 million, or 2.2% compared to 6M23, with a total revenue of 4,162.3 million, an increase of 13.8% or THB 505.2 million compared to the same period last year.
