Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiSAO PAULO -Brazilian healthcare operator Hapvida posted on Thursday a 104.8% jump in its adjusted net profit for the fourth quarter compared to a year earlier, bolstered by higher prices for its health plans.
The company, which operates health and dental plans and owns hospitals in Brazil, reported a 330.5 million real adjusted net profit in the quarter ended in December.Hapvida said its net revenue rose 6.7% to 6.94 billion reais in the quarter year-on-year, as its main health plan business saw an 8% revenue rise, with higher prices offseting a fall in the number of customers.
The firm's cash medical loss ratio, an indicator closely watched by investors, fell 3.6 percentage points from a year earlier to 69.3%, down 2.6 percentage points from the third quarter. Its adjusted earnings before interest, taxes, depreciation and amortization stood at 949.7 million reais in the quarter, up 58.6% year-on-year, above the 913.6 million real estimate from analysts polled by LSEG.
Without adjustments, which included amortization of intangible assets, Hapvida posted a 29.9 million real net loss, from a 316.7 million real net loss a year earlier.ADVERTISEMENT
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