KUALA LUMPUR (Nov 14): TMC Life Sciences Bhd’s net profit in the first quarter ended Sept 30, 2023 (1QFY2024) soared by 143.10% to RM15.14 million from RM6.23 million in the corresponding period a year ago (1QFY2023), in line with revenue growth attributed to the increase in capacity of Thomson Hospital Kota Damansara (THKD) and the recovery of its fertility business.

Earnings per share expanded to 0.87 sen from 0.36 sen, its Bursa Malaysia filing showed.

Quarterly revenue surged by 28.6% to RM92.44 million from RM71.87 million, underpinned by higher contribution from its fertility business.

On a quarterly basis, the multi-disciplinary tertiary care centre and fertility centre’s net profit came in higher from RM13.25 million reported in the immediate preceding quarter (4QFY2023), while revenue edged higher from RM84.65 million.

Moving forward, the group said it is closely monitoring the evolving global economic landscape, foreign exchange and interest rate risk, and is committed to adapt its business strategy to mitigate any adverse impact to the group’s performance.

“The increased capacity in THKD, recovery of [the] fertility business and rise in medical tourism are expected to contribute to the growth of the group,” it said.

Shares in TMC Life Sciences finished 0.05 sen to 61.5 sen on Tuesday, giving it a market capitalisation of RM1.07 billion.