Apollo Hospitals Enterprises has posted a 47 per cent year-on-year decline in its consolidated net profit for the first quarter at ₹173 crore. The vertically integrated healthcare provider posted a net profit of ₹324 crore in the same quarter of the previous fiscal.

The net profit in the latest quarter was pulled down by a ₹97 crore combined loss posted by Apollo Healthco (digital health & pharmacy distribution vertical) and Apollo Health & Lifestyle Ltd (diagnostics and retail health vertical) during the latest quarter. Healthcare service vertical (hospitals) reported a profit after tax of ₹264 crore in Q1FY24. 

Also read: Apollo Hospitals will achieve 70% occupancy in FY24: MD, Suneeta Reddy

Consolidated revenue from operations grew by 16 per cent year-on-year to ₹4,418 in April-June quarter as opposed to ₹3,796 crore recorded in the same quarter of the previous fiscal. Consolidated expenses of the healthcare provider went up 18 per cent to ₹4,182 crore (₹3,545 crore) during this period. 

Of the total revenues, the healthcare division (hospitals) contributed 52 per cent of the consolidated revenues at ₹2,294 crore followed by Apollo Healthco (₹1,805 crore ) and AHLL (₹318 crore). 

Also read: Apollo Hospitals plan to add two more proton cancer centres in India

On a standalone basis, the company’s net profit was down by 36 per cent to ₹214 crore (₹333 crore), while revenue from operations went up by 10 per cent to ₹1,688 crore (₹1,530 crore).

Shares of Apollo Hospitals were down by 1 per cent to ₹4,886 on NSE on Friday.

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