Health care major Apollo Hospitals Enterprise Ltd has posted 27 per cent growth in net profit at Rs 75 crore for the fourth quarter ended March 31, 2013, against Rs 60 crore in the comparable previous year quarter. Revenues recorded a growth of 14 per cent at Rs 848 crore during the period against Rs 744 crore last year.
On the annual performance front, profit after tax went up by 34 per cent to Rs 309 crore (Rs 231 crore). It has recorded an increase in revenues by 18.5 per cent at Rs 3,317 crore compared with Rs 2,800 crore in FY 2011-12. Earnings per share stands at Rs 22.22.
Apollo’s newer hospitals continued to display steady progress and improvement in operating parameters, says a press release from the company. Hospitals in tier II cities, in Madurai and Mysore, displayed strong revenue growth of 27 per cent and 29 per cent, respectively. Its Reach Hospitals at Karimnagar and Karaikudi also performed well with revenue growth of 30 per cent and 109 per cent, respectively, it adds.
The company recently entered into a long-term lease of Lifeline hospital facility in Chennai. The facility is now being refurbished and will be launched under the “Apollo Hospitals” logo in the second half of FY14.
Prathap C. Reddy, Chairman, had already mentioned that aligned with the disease burden of the nation, the company had built an expansion strategy of commissioning over 1,000 beds across seven locations during the current financial year, at an investment of Rs 720 crore. “Internal resources have also been upgraded to execute this on time and on budget.”
On the BSE, the shares of Apollo Hospitals Enterprise closed at Rs 996.10 on Monday, down 6.71 per cent.