PETALING JAYA: TMC Life Sciences Bhd posted a net profit of RM5.4 million for its second quarter ended Dec 31, 2020 on a revenue of RM48.79 million.
Due to a financial year-end change from Aug 31 to June 30, the group said, there is no comparative figure for the quarter.
According to the group’s Bursa filing, a comparison against the same quarter ended Dec 31, 2019 which it provided as a reference, indicated that its profit before tax (PBT) fell 40% to RM6.98 million from RM11.63 million.
“Revenue and patient load from elective cases decreased significantly when the number of new Covid-19 cases in this quarter increased significantly in Selangor and Federal Territory areas. Despite lower operating expenditure, profit before taxation was lower mainly due to lower revenue and interest income during the current quarter,” it said.
For the six-month period, TMC reported that its net profit stood at RM13.19 million, while its revenue came in at RM99.62 million.
On its prospects for the rest of the year, TMC pointed out that its revenue has declined since the start of the conditional movement control order (CMCO) on Oct 14, 2020.
It said: “Various initiatives were implemented during this time including cost control and cash conservation measures as well as the introduction of new services e.g. ePharmacy, home delivery of medication and the Thomson Hospital Online telehealth platform.”
However, it added that since the implementation of the CMCO, its Thomson Hospital Kota Damansara expansion project has resumed.
Despite the reimposition of the MCO on Jan 13, and the increase in Covid-19 cases, it is cautiously optimistic of its mid- and long-term prospects.
The Thomson Hospital Kota Damansara expansion project has resumed. – TMC Life Sciences website pix
