📷 Image Credits: The Economic Times
On Thursday, Apollo Hospitals Enterprises Ltd. disclosed a consolidated net profit of ₹253.8 crore for the quarter ended March, marking a 76% increase from the same period a year ago. The company’s revenue for the quarter stood at ₹4,944 crore, a 15% rise year-on-year, aligning with analyst estimates.
Krishnan Akhileswaran, the group chief financial officer at Apollo Hospitals, attributed the rise in net profit not only to revenues but also to the enhanced overall profitability of HealthCo. Earnings before interest, tax, depreciation, and amortization (Ebitda) reached ₹640 crore during the quarter, rising by 31% with a margin of 12.95%.
Looking ahead, Apollo Hospitals plans to uphold its growth trajectory, particularly in the HealthCo segment. The company aims to strengthen profitability in HealthCo while sustaining robust volume growth in healthcare services. Further, Apollo has ambitious expansion plans in major cities across India, such as Gurugram, Hyderabad, Kolkata, Pune, and Bengaluru.
Moreover, Apollo Health and Lifestyle Limited (AHLL) reported losses of ₹51 crore but witnessed a 15% increase in revenues to ₹354.7 crore. The company’s HealthCo division reported losses of ₹196 crore, with revenues up by 13% to reach ₹2,026.7 crore. Notably, Apollo recently secured a binding agreement to raise ₹2,475 crore in equity capital from private equity firm Advent International.
In addition to its Q4 performance, Apollo Hospitals also disclosed its financial numbers for fiscal year 2023-24. The net profit for the full year surged by 33% to ₹899 crore, while revenues climbed by 15% to ₹19,059 crore. The board proposed a final dividend of ₹10 per equity share to shareholders of the company for FY24.
The reappointment of Dr. Prathap C. Reddy as a whole-time director designated as executive chairman was also approved. The market response to the news was evident as shares of Apollo Hospitals Enterprise Ltd. closed at ₹5,761 on the BSE, marking a decline of 2.47% post the announcement.
