Companies

Apollo Hospitals profit jumps 69 per cent to Rs 57 crore in Q1

Our Bureau Chennai | Updated on August 13, 2019 Published on August 13, 2019

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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.

Published on August 13, 2019
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