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Apollo Hospitals Enterprise Ltd (AHEL) on Friday reported a 81 per cent growth in its third quarter net profit at ₹243 crore. The healthcare chain posted a net profit of ₹134 crore during the corresponding quarter in the previous year.
On a sequential basis, the company’s net profit was down from ₹267 crore posted in the second quarter.
Consolidated revenue from operations rose 32 per cent on a year-on-year basis to ₹.3,639 crore (₹2,760 crore) in Q3 FY22. Apollo Hospitals’ consolidated EBITDA grew 50 per cent to ₹587 crore (₹390 crore).
“The third quarter saw us continue on the path to recovery in line with the revival in the overall economy. However, the end of the quarter saw a fresh challenge emerge in the form of a new variant — Omicron — that is more transmissible than all other variants till now,” Prathap C Reddy, Chairman, Apollo Hospitals Group, said in the earnings press release.
“However, our experience of battling Covid during the first two waves and preparedness in terms of trained doctors and healthcare staff, as well as hospital infrastructure such as ICU beds and oxygen supply, stood us in good stead,” he added.
Standalone net profit grew by 65 per cent year-on-year to ₹175 crore (₹106 crore) but was down on a sequential basis from ₹186 crore posted during the September 2021 quarter. Standalone revenue from operations grew by 20 per cent to ₹2,846 crore (₹2,367 crore).
On a sectoral basis, consolidated revenue from healthcare services increased by 41 per cent to ₹2,018 crore (₹1,436 crore). Revenue of existing and new hospitals grew by 40 per cent respectively. Pharmacy revenues grew 16 per cent to ₹1,307 crore (₹1,126 crore).
“The third quarter of FY22 witnessed strong revival of non-Covid business with volumes reaching pre-Covid levels, despite holiday seasonality and without significant contribution from international patients,” the company said.
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