(Reuters) – Medibank Private Ltd on Thursday beat profit estimates for the first half of fiscal 2023, as its international business received a boost from students, workers and visitors returning to the country.
Australia’s biggest health insurer posted a net profit after tax of A$233.3 million ($159.41 million) for the six months ended Dec. 31, up 5.9% from A$220.2 million a year earlier. It beat a consensus estimate of A$211 million, according to UBS.
Shares in Medibank, which has been in the spotlight since a cyber hack in October compromised the data of millions of customers, rose as much as 6.8% to A$3.29.
As of the last close, the stock had declined over 10% since first reporting the cyber incident.
($1 = 1.4635 Australian dollars)
(Reporting by Harish Sridharan in Bengaluru; Editing by Dhanya Ann Thoppil)