Apollo Hospitals on Tuesday posted a 51 per cent growth in its consolidated net profit for the fourth quarter at ₹146 crore. The Chennai-based healthcare chain posted a net profit of ₹97 crore for the corresponding quarter of FY22. On a sequential basis, the consolidated net profit was marginally down from ₹162 crore posted in Q3FY23.
Consolidated revenue from operations increased by 21 per cent y-o-y to ₹4,302 crore (₹3,546 crore) during Q4FY23 while the healthcare providers’ total expense went up 22 per cent to ₹4,069 crore (₹3,345 crore) during the comparable quarters.
Of the total revenues, healthcare services (hospitals) revenue grew at 18 per cent y-o-y to ₹2,195 crore while Apollo Health & Lifestyle Ltd (AHLL), which includes clinics, diagnostics and daycare business stood at ₹309 crore. Revenues of Apollo HealthCo (digital health and pharmacy distribution business) stood at ₹1,799 crores, growing by 31 per cent year-on-year.
For the full year, the company’s consolidated net profit declined by 24 per cent y-o-y to ₹845 crore in FY23 against a net profit of ₹1,108 crore in FY22. The net profit was pulled down by a jump in total expenditure, which went up by 16 per cent y-o-y to ₹15,559 crore (₹13,457 crore) in FY23. The full year profit was also brought down by a ₹43 crore loss in an associate / joint venture company during the previous fiscal. Revenue from operations saw 13 per cent growth to ₹16,612 crore (₹14,662 crore) in FY23.
Healthcare Services revenue was up 9 per cent y-o-y to ₹8,677 crore in FY23 while AHLL’s revenue de-grew by 6 per cent to ₹1,231 crore during the previous fiscal. Apollo Healthco revenues jumped 25 per cent to ₹6,705 crore during the previous fiscal.
On a standalone basis, net profit jumped 63 per cent to ₹1,085 crore (₹665 crore) in FY23. The company had a deferred tax credit of ₹160 crore during the previous fiscal. Standalone revenue from operations grew by 7 per cent to ₹6,525 crore (₹6,098 crore) in FY23 while expenses was up by 3 per cent to ₹5,449 crore (₹5,286 crore).
The company declared a final dividend of ₹9 per share for the financial year 2022-23 in addition to ₹6 interim dividend declared earlier.
As on March 31, 2023, Apollo Hospitals had a total 70 hospitals with 9,957 operating beds across the network (including 562 beds in AHLL, out of which 14 hospitals were new with 2,384 operating beds.
Shares of Apollo Hospitals touched an intraday high of ₹4,795 apiece on NSE, 3 per cent higher than previous day’s closing price of ₹4,640.45 per share. However, the stock closed at ₹4,600 apiece on NSE, 0.87 per cent down from Monday’s closing price.