Medi Assist Healthcare Services (MEDIASSIST) Q2 24/25 earnings summary

Executive summary

• Premium under management reached INR 10,583 crore as of September 30, 2024, up 18.1% year-over-year, with group and retail segments growing 15.6% and 41.2% respectively.

• Market share in health insurance premium administered rose to 19.2% from 18.5% year-over-year.

• Net profit for the quarter was Rs 210.11 million, compared to Rs 189.45 million in the previous quarter and Rs 46.26 million in the same quarter last year.

• The company completed its IPO in January 2024, raising Rs 11,715.77 million through an offer for sale.

• Maintained high group account retention at 94.3%; significant growth in non-PSU insurer business and international expansion.

Financial highlights

• Total income for H1 FY25 was INR 360.0 crore, up 15.4% year-over-year.

• Operating EBITDA reached INR 73.7 crore, up 18.1% year-over-year, with a 21.1% margin.

• PAT was INR 40.0 crore, up 65.0% year-over-year, with an 11.1% margin on total income.

• EBITDA for the quarter was Rs 430.77 million, and for the six months, Rs 796.58 million.

• Basic EPS for the quarter was Rs 2.99, and diluted EPS was Rs 2.97.

Segment performance

• Group segment PUM for non-PSU insurers grew 30.4% year-over-year, outpacing industry growth of 23.8%.

• Retail segment market share increased to 5.6% from 4.7% year-over-year.

• International benefits business won a major PSU tender for 2024-2027.