Apollo Hospitals Q1 Net Profit Declines 46.5% YoY to Rs 173.4 Crore

11 Aug 2023 , 03:29 AM

On August 11, Apollo Hospitals Enterprises reported a 46.5% decrease in consolidated net profit for the April-June quarter of the current fiscal year, at Rs 173.4 crore from Rs 323.8 crore a year earlier.

In keeping with the expectations of Rs 4,435.1 crore, revenue for the quarter climbed 16.4% to Rs 4,417.8 crore from Rs 3795.6 crore during this time.

Earnings before interest, taxes, depreciation, and amortization, or EBITDA, were Rs 509.1 crore as opposed to Rs 490.7 crore in the baseline period. EBITDA margins for the June quarter were 11.5%, which was lower than the 12.9% recorded during the same period last year.

In a press release, Prathap C. Reddy, Chairman of the Apollo Hospitals Group, stated that the first quarter of the fiscal year 2024 had ‘healthy growth and performance.’ As we move into the following quarter, he continued, ‘As we continue to guide Apollo towards a future where healthcare is proactive, personalized, and accessible to all, our aim is steady – to augment our doctors’ knowledge and revolutionize the overall patient experience.

In the reporting quarter, the healthcare services division’s consolidated revenues climbed by 13% to Rs 2,293.7 crore from Rs 20,234 million in Q1 FY23. While new hospitals saw a 23% increase in revenue, established hospitals saw a 10% increase.

A wholly owned subsidiary of Apollo HealthCo Ltd., where the pharmacy distribution business is located, declared a financial loss of Rs. 82.6 crore for the quarter.  A net loss of Rs 14.7 crore was reported for the quarter by Apollo Health and Lifestyle.

After the company’s quarterly earnings were announced on the NSE at 2:15 pm, shares of the company were trading at Rs4915.40, down 0.14%.

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