Comments
Apollo Hospitals reported a 69 per cent increase in net profit to ₹57 crore for the first quarter ended June 30, against ₹34 crore for the corresponding quarter last year. Revenue grew 16 per cent to ₹2,572 crore (₹2,210 crore). The growth was aided by strong performance in healthcare services and Stand Alone Pharmacies (SAP). The overall healthcare services growth for the quarter was also aided by increase in surgical and cathlab volumes at both mature and new hospitals.
Prathap C Reddy, Chairman, Apollo Hospitals, in a release said, “We have made a strong start to the financial year building on the momentum gained last year to deliver steady growth in revenue and margins across all our verticals.”
Revenue has received a boost driven by positive trends at the mature hospitals, which reported growth of 14 per cent, and an improved performance from new hospitals reporting revenue growth of 20 per cent. Apollo will continue to work towards a further improvement in the margins to 23 per cent by the first half of financial year 2021. The value unlocking through divestment of the front-end pharmacy business progressed in the quarter and is expected to be completed by November.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.