JAKARTA – Although the revenue of PT Siloam International Hospitals Tbk (SILO) grew in Q1 2024, its profit significantly dropped compared to the same period in 2023. This profit decline led to a significant decrease in other expenses at the beginning of this year.

Based on the Q1 2024 Financial Report quoted today (26/4), SILO reported revenue of IDR 3.02 trillion, up 14.05% year-on-year (yoy) from IDR 2.65 trillion in Q1 2023. The highest revenue came from non-specialist segment, generating IDR 2.34 trillion or 14.36% yoy higher from IDR 2.04 trillion. It was then followed by specialist segment with IDR 686.26 billion, increasing 12.94% yoy from IDR 697.63 billion.

In terms of operational segment, inpatient services brought in total revenue of IDR 1.70 trillion, growing 12.82% yoy from IDR 1.51 trillion, while outpatient segment soared 15.66% to IDR 1.32 trillion from IDR 1.14 trillion.

Gross profit was recorded at IDR 1.15 trillion, up 13.90% yoy from IDR 1.01 trillion. However, the operating profit dropped 59.55% yoy to IDR 148.50 billion from IDR 367.70 billion. This resulted from 703.87% surge in other expenses, arriving at IDR 351.03 billion from only IDR 43.66 billion.

With this increase, profit before taxes was halved to IDR 133.34 billion from IDR 353.22 billion. The current year’s net profit also significantly dropped to IDR 25.26 billion, or 90.18% yoy lower than IDR 257.37 billion.

Lastly, the net profit attributed to the parent entity was at IDR 13.67 billion, or down 94.52% yoy from IDR 249.61 bilion, while the profit attributed to non-controllers shifted 49.35% yoy to IDR 11.58 billion from IDR 7.75 billion. (LK/ZH)