KUALA LUMPUR (April 16): Newly-listed fertility care company Alpha IVF Group Bhd made a net profit of RM13.59 million for its third quarter ended Feb 29, 2024 (3QFY2024), on a revenue of RM40.7 million.

The revenue came mostly from the provision of assisted reproductive services focusing on in-vitro fertilisation (IVF) treatments.

For its first nine months of FY2024 (9MFY2024), Alpha IVF posted a net profit of RM38.92 million, on a revenue of RM120.84 million.

While no comparative figures were provided as this is the group’s first financial report after its listing on Bursa Malaysia’s ACE Market on March 22 this year, the group said in a statement that its 9MFY2024 net profit represents 92.8% of what it made in 9MFY2023.

Prior to its listing, Alpha IVF reported a net profit of RM53.2 million, on the back of RM137.48 million in revenue for FY2023, according to its prospectus.

Alpha IVF’s group managing director Datuk Dr Colin Lee Soon Soo said there has been an increase in demand for IVF treatment services from overseas patients returning to Malaysia, driven by a resurgence of medical tourism following the reopening of borders.

“Looking ahead, we are optimistic about our prospects and ability to sustain growth, especially with the upward trajectory of patients choosing Malaysia for reproductive treatments,” he said in the statement.

The company aims to further expand its specialist centres in Malaysia, Indonesia, and either Cambodia or Laos, as well as its research and development team, to keep up with the latest developments in assisted reproductive services.

Alpha IVF also updated that its Muslim-friendly specialist centre, Alhaya Fertility Centre KL, which aims to tap into local and international Muslim markets, began operations on April 8. This brings the total number of specialist centres operated by the company to five, with four in Malaysia and one in Singapore.

At Tuesday’s close, Alpha IVF’s share price remained unchanged at 33.5 sen, valuing the group at RM1.63 billion. Being the largest initial public offering on the ACE Market when it debuted, the stock has gained 1.5 sen or 4.7% since listing.

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