IHH Healthcare Bhd posted a net profit after tax and minority interests of 528 million Malaysian ringgit for the quarter ended 31 March 2026, up 3 percent year-on-year, as higher inpatient and day-case volumes across Malaysia, Türkiye/Europe and India offset currency translation headwinds from a stronger ringgit.
Group revenue rose 4 percent year-on-year to 6.6 billion ringgit. Core revenue, adjusted for currency movements and the impact of hyperinflation accounting in Türkiye, advanced 16 percent YoY to 6.5 billion ringgit, while core profit (excluding exceptional items) increased 5 percent to 545 million ringgit. Group EBITDA expanded 7 percent to 1.4 billion ringgit. The company did not declare any dividend for the period.
By geography, Malaysia delivered higher revenue intensity and a larger share of medical tourists, helped by the rollout of capital-light daycare centres. The Türkiye and Europe cluster achieved double-digit growth across revenue, EBITDA and inpatient volumes despite a full month of Eid holidays, buoyed by resilient domestic demand and a recovery in international patients. In India, continued integration benefits from the Fortis Healthcare and Gleneagles partnership under the maintenance services agreement supported both topline and margin gains. Singapore remained the laggard as patient volumes shifted toward public hospitals; management is executing measures to stabilise performance, including refining case-mix at Mount Elizabeth, boosting corporate referrals and expanding day-surgery capacity.
Currency movements were a headwind, trimming reported growth relative to constant-currency gains. The group said its diversified asset base across 10 countries continued to mitigate macroeconomic volatility.
Looking ahead, IHH is progressing through a multi-year transformation aimed at delivering double-digit return on equity by 2028. Key initiatives include a newly announced partnership with Oracle to consolidate finance, HR and supply-chain functions on a single AI-enabled cloud platform, a move expected to enhance efficiency and patient service. Operational priorities for 2026 comprise expanding daycare and medical tourism in Malaysia, deepening insurer and corporate tie-ups in Singapore, accelerating brownfield expansion and M&A in India, and preserving Acibadem’s leadership position in Türkiye while maintaining a capital-light strategy.
Group Chief Executive Officer Dr Prem Kumar Nair said the first-quarter performance reflected the strength of IHH’s diversified portfolio, citing robust demand in Malaysia, Türkiye/Europe and India and the continued push into higher-complexity procedures. He added that cost controls and targeted growth initiatives in Singapore should support a second-half recovery, and reiterated the group’s commitment to prudent capital management as it navigates global volatility.