SAO PAULO, March 28 (Reuters) - 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 ($65.9
million) 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 (EBITDA) 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.
($1 = 5.0153 reais)