KUALA LUMPUR: KPJ Healthcare Bhd's net profit fell 24.7% to RM25.09mil in the first quarter ended March 31, 2013 from RM33.3mil a year ago due to losses sustained by the group's newly opened hospitals.
It said on Wednesday its topline however increased 4% to RM545mil from RM525.6mil a year ago due to higher revenue from its new and existing hospitals.
Earnings per share declined to 4.29 sen from 5.81 sen a year ago. The group declared a dividend of two sen a share and the ex date was June 26.
KPJ Healthcare said its local revenue increased 2% to RM491.6 while its Indonesian operations posted a 38% increase to RM6.9mil compared to a year ago.
It said RM10mil was included in the preceding quarter as a result of gain on disposal of shares in Al-'Aqar Healthcare REIT and gain on revaluation of Investment Properties.
KPJ, however, was optimistic on the growth driven by the launch of its four new hospitals -- KPJ Sabah Specialist Hospital, Pasir Gudang Specialist Hospital, Maharani Specialist Hospital and Rawang Specialist Hospital.
"The expansion of existing hospitals will have a positive impact to the Group results for 2013, however this will be moderated by the new greenfield hospitals where each of this hospital will have an average gestation period between three to five years," it said.