ISEC Healthcare Ltd posted a net profit of S$2.75 million for the quarter ended 31 Mar 2026, down 11% year-on-year as rising lens and doctor remuneration costs offset modest top-line growth.

Revenue grew 4% YoY to S$18.62 million, but gross profit eased 4% to S$7.80 million, compressing the gross margin to 41.9% from 45.3% a year earlier. The company did not declare any dividend for the period.

Specialised health services remained the main growth engine, with revenue rising S$0.67 million to S$17.62 million, supported by a stronger Malaysian ringgit. General health services contributed S$0.09 million of additional sales on the back of higher patient volumes and government-subsidised vaccination programmes.

Cost pressures weighed on the bottom line. Cost of sales rose 11% to S$10.82 million, driven by a S$0.58 million increase in lens costs and a S$0.47 million uptick in doctors’ remuneration. Administrative expenses inched up 4% to S$3.96 million following staff additions, while selling and distribution outlays jumped 34%. Other income fell 28% to S$0.13 million. A sharp reduction in foreign-exchange losses cut other expenses to S$0.02 million from S$0.16 million, providing some cushion.

Among strategic initiatives, the group said renovation and fit-out works for its new Kuala Lumpur medical centre—being developed in recently acquired strata-title units—are progressing on schedule, with operations slated to commence by 2027. In January, ISEC KL formed a 68%-owned joint venture, ISEC (Batu Pahat) Sdn. Bhd., and will raise its capital to RM1.07 million within nine months to expand into Malaysia’s Johor state. The company added that its Myanmar clinic remains operational, though it continues to monitor the country’s post-election political environment.