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Apollo Hospitals Enterprise Ltd registered a profit of ₹35 crore, down 50 per cent, for the quarter ended June 30, 2017. It had posted a profit of ₹72 crore for the same period last year.
A senior official from the company told BusinessLine that the drop in profit was due to higher depreciation and interest costs on around 2,400 new beds added in the last three years at an investment of ₹2,000 crore.
The company lost ₹15 crore at its new hospital in Navi Mumbai. It incurred expenses in marketing and payment for doctors and allied staff in new and existing hospitals. “We expect to see the benefit of investments in the next three years,” the official added. It’s revenue stood at ₹1,684 crore, up 15 per cent, last quarter from ₹1,465 crore for the comparable quarter ended June 30, 2016. Revenue from healthcare services increased 10 per cent at ₹920 crore mainly due to the rise in volumes.
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