Apollo Hospitals Surges on Strong Q1 Results

14 Aug 2024 , 02:30 PM

Apollo Hospitals shares rose 4% after announcing an 83% YoY increase in Q1 PAT.

Apollo Hospitals’ shares gained 4.2% to a day high of Rs 6864.95 on the BSE after the firm declared a net profit of Rs 305 crore for the first quarter ended June 2024, up from Rs 167 crore the previous year.

The company’s income from operations climbed 15% year on year (YoY) in the reporting period to Rs 5,086 crore, up from Rs 4,418 crore in the previous year quarter.

Healthcare services revenue surged 15% year on year to Rs 2,637 crore, while EBITDA increased 15% to Rs 622 crore. The segment’s PAT was Rs 328 crore, up 24% year on year.

Q1 was in line with expectations. A significant increase in occupancy was seen.

Weak ARPOB growth, Apollo 24/7’s GMV growth, and margin declines were viewed as notable concerns, but robust revenue growth across sectors and a significant improvement in occupancy were viewed positively.

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