Apollo Hospitals plunges ~3% on sluggish growth numbers in Q1FY23

12 Aug 2022 , 01:23 PM

Apollo Hospitals Enterprises Limited reported consolidated revenue of Rs3,796 crore in Q1FY23, up by 7% sequentially.

Further, the company reported an EBITDA of Rs626 crore in the quarter ended June 30, 2022, clocking 14% growth over the last quarter.

Company reported a consolidated PAT of Rs317 crore, after a deferred tax reversal of Rs147 crore. While Adjusted PAT stood at Rs171 crore in Q1FY23 against Rs178 crore in Q4FY22.

"The first quarter of the new fiscal year saw a significant increase in demand for non-CO VID health services, which bodes well for growth this fiscal year,” commented Prathap C. Reddy, Chairman, Apollo Hospital Group.

He further added, “We have been able to serve and restore health to a greater number of patients with noncommunicable diseases (NCDs). At the same time, our emphasis on preventive healthcare has continued to assist patients in managing chronic conditions and preventing them.”

As of June 30, 2022, Apollo Hospitals reported 7,864 operating beds (excluding AHLL and managed beds) across the network, with 2,421 in new hospitals and 1,331 occupied beds. In Q1FY23, mature hospitals had a 62% occupancy rate, while new hospitals had a 55% occupancy rate.

Company further stated that the revenue of healthcare services division jumped by 9% over Q4FY22 to Rs2,023 crore in Q1FY23, supported by strong growth in mature hospitals by over 14%.

Apollo Hospitals was trading at Rs4,284.10 down by Rs150.15 or 3.39% from its previous closing of Rs4,434.25 on the BSE. The scrip touched intraday high and low of Rs4,396.90 and Rs4,275.70 respectively.