KUALA LUMPUR (Jan 21): Alpha IVF Group Bhd’s (KL:ALPHA) net profit for its second quarter ended Nov 30, 2024 (2QFY2025) increased 23.6% to RM15.1 million, from RM12.21 million a year ago, thanks to higher sales revenue from foreign patients.

Revenue increased 12.2% year-on-year to RM43.24 million, from RM38.54 million in 2QFY2024, according to the fertility care specialist's bourse filing.

No dividend was declared for the quarter.

Alpha IVF said foreign patients’ contribution to its Malaysian operations increased substantially to 71.2% during the quarter, up from 57.2% in 2QFY2024, with patients from Indonesia and China driving the growth.

Indonesian patients are Alpha IVF’s largest clientele, contributing about 34.9% to its total revenue while patients from China contributed 25.2%.

The company noted that Chinese patients represented the fastest-growing segment, with revenue increasing fourfold to RM8.1 million compared to the same period last year.

For the first half of FY2024, Alpha IVF’s net profit grew 16.4% year-on-year to RM29.48 million from RM25.34 million, while revenue increased 7.6% to RM86.24 million from RM80.14 million.

Alpha IVF said its domestic operations accounted for RM38 million or 87.8% of its revenue in 2QFY2025 with the remainder coming from its Singaporean operations.

Group managing director Datuk Dr Colin Lee Soon Soo said the company will continue to focus on its market expansion strategies for FY2025, leveraging the momentum gained from recent regional developments.

“Beyond China, we are further expanding our presence in the Southeast Asia region with the establishment of a full-fledged IVF centre in the Philippines and our first satellite clinic in Indonesia, tapping into these rapidly growing markets. These initiatives are in line with our strategic goal to become a regional IVF leader,” Lee said.

“Looking ahead, we are confident in our continued growth prospects. With the broadening of our services in both existing and new markets, we are well positioned to further strengthen our local and regional footprints,” he added.

Following the successful opening of its first sales office in Shanghai last September, Alpha IVF has launched a new second sales representative office in Guangzhou, which began operations in early January.

Shares in Alpha IVF closed unchanged at 32.5 sen on Tuesday, giving it a market capitalisation of RM1.58 billion.