Conglomerate Dato Sri Tahir's Mayapada Hospital Management Revenue Drops To IDR 478.76 Billion In The First Quarter Of 2022, Due To Sloping COVID-19 Cases?

Mayapada Hospital. (Photo: Doc. Mayapada Hospital)

JAKARTA - The management of Mayapada Hospital owned by conglomerate Dato Sri Tahir, PT Sejahteraraya Anugrahjaya Tbk (SRAJ) recorded a decrease in revenue and net profit in the first quarter of 2022 financial performance. The decline in revenue was mainly due to the decline in COVID-19 cases.

Director of Sejahteraraya Anugrahjaya, Charlie Salim, said the company's revenue until March 2022 fell 4.33 percent year on year (yoy) to Rp478.76 billion from the previous Rp500.44 billion in the first quarter of 2021.

"This decline in revenue is related to the decline in COVID-19 cases. As a result, the company's revenue fell, especially in the inpatient segment, down 29.57 percent yoy and laboratories down 27.49 percent yoy," Charlie said during a public expose, Wednesday, June 8.

In the first quarter of 2022, SRAJ's revenue was dominated by the pharmaceuticals segment, which grew by 36.48 percent yoy to Rp213.5 billion from the previous Rp156.43 billion in the first quarter of 2021.

However, other business segments have declined. In this period, revenue from the inpatient segment decreased by 29.57 percent yoy to Rp. 97.29 billion from the previous Rp. 138.14 billion in the first quarter of 2021.

Then the laboratory segment fell by 27.49 percent yoy to Rp. 71.45 billion, then the polyclinic segment fell 4.17 percent yoy to Rp. 68.74 billion, radiology fell 23.78 percent yoy to Rp. 28.96 billion, and medical check-ups fell 49. 08 percent yoy to Rp2.73 billion.

In the first quarter of 2022, direct expenses increased by 1.48 percent, which was mainly due to an increase in doctor services, the burden of inpatients, as well as the cost of salaries and allowances. With the decrease in revenue and an increase in direct costs, the company's gross profit fell by 14.36 percent yoy to Rp. 157.33 billion.

Meanwhile, at the beginning of this year, SRAJ's operating expenses increased by 25.71 percent yoy to Rp127.69 billion. Then, with the increase in operating expenses, SRAJ's operating profit fell 63.91 percent which then made its net profit or net profit decrease by 86.92 percent yoy to Rp. 8.92 billion from the previous Rp. 68.25 billion in the first quarter of 2021.