TMC Life Sciences’ 2Q net profit dips by 20%

Its revenue, however, rises 23.85% to RM73m

TMC Life Sciences Bhd’s net profit for the second quarter ended December 31, 2022 (2Q23), fell 20.49% to RM5.49 million from RM6.91 million a year earlier, due to a sharp increase in depreciation and tax expenses.

Its depreciation and amortisation expenses rocketed to RM6.3 million from RM2.92 million, while finance costs jumped to RM2.46 million from RM116,000.

Revenue, however, grew 23.85% to RM73.34 million compared to RM59.22 million previously, driven by an increase in Thomson Hospital Kota Damansara’s (THKD) capacity and the recovery of the fertility business, according to the group’s filing to the bourse.

For the six months period, the group’s net profit increased by 7% to RM11.72 million from RM10.95 million, while revenue expanded 30% to RM145.21 million from RM111.9 million.

The healthcare group, which is 70.35%-owned by Singapore billionaire Peter Lim Eng Hock via Sasteria (M) Pte Ltd, said it is monitoring the global economic issues, particularly inflation that might impact the group’s performance.

“Barring any unforeseen headwinds, the increased capacity in THKD and the recovery of the fertility business are expected to contribute positively to the growth of the group going forward,” it said.

TMC Life Sciences ended at 65.5 sen yesterday, up one sen or 1.55%, for a market value of RM1.14 billion. — TMR / pic TMR File