Apollo Hospitals Enterprise Ltd (AHEL), on Wednesday, reported a 43 per cent decline in its fourth quarter consolidated net profit for FY22 at ₹97.01 crore. The healthcare major posted a net profit of ₹169.89 crore during the corresponding quarter in FY21. On a sequential basis, the company’s net profit was down by more than 60 per cent from ₹243.25 crore posted in October-December quarter of FY22.
The company said the degrowth in Profit After Tax (PAT) was due to one-off capital gain tax charged under business combination accounting.
The company re-organised its pharmacy distribution business including the online technology platform, Apollo 24/7, and the company’s shareholding in associate company Apollo Medicals Private Limited (AMPL), to Apollo Healthco Limited, a wholly-owned subsidiary of the company. It was effected on March 16, 2022. Consequently, the pharmacy distribution business has been classified as ‘discontinued operations’ and the company is now engaged only in the healthcare business.
Consolidated revenue from operations grew by 24 per cent year-on-year to . ₹3,546.43 crore (₹. 2,867.95 crore) during Q4FY22.
On a standalone basis, the company’s PAT, including continuing and discontinued operations, grew by 33 per cent year-on-year to ₹153.67 crore (₹115.52 crore) in Q4FY22. However, standalone PAT was down by 12 per cent sequentially from ₹175.41 crore posted during Q3FY22.
For the full year, the company posted a standalone net profit of ₹665.03 crore in FY22 against a net profit of ₹105.16 crore in the previous fiscal. However, Apollo Hospitals said the results for the year ended March 2022 are not comparable with the results for the year ended March 2021, which included the front-end retail pharmacy business included in the standalone pharmacy segment until its effective data of transfer .