BDMS’s 1Q Net Profit Contracts 48% due to a Decrease in International Patient Revenue

Bangkok Dusit Medical Services Public Company Limited (BDMS) has reported its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

BDMS reported consolidated operating income for 1Q21 of 16,281 million baht, a decrease of 19% YoY. The net profit was 1,339 million baht, decreasing by 47.87% YoY. This was attributable to no share of profit due to divestment of all investment in Bumrungrad Hospital Public Co., Ltd. during 4Q20 and a decrease in revenue from hospital operations of 19% YoY mainly from a decrease in international patient revenue as a result of travel restrictions from Covid-19 outbreak since 2Q20.  

 

Revenue from Thai patients was impacted by the second wave of Covid-19 outbreak that had been raging since late December 2020. However, revenue from Thai patients improved and turned into positive growth in March 2021 compared to March 2020 partly from increasing revenue from domestic contracts and affordable price check-up packages that BDMS launched during the quarter.  

 

Meanwhile, total operating expenses and depreciation decreased 15% YoY to 14,334 million baht, as a result of a continuous cost saving program to manage cost while maintaining quality and standard of care since 2Q20.