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Apollo Hospitals has reported a 25 per cent increase in standalone net profit to ₹60 crore for the fourth quarter ended March 31, 2018, against ₹48 crore in the same quarter last year. Revenue was up 15 per cent to ₹1,863 crore.
For the fiscal ended March, 31, 2018, the hospital reported a net profit of ₹233 crore on revenue of ₹7,183 crore, says a company press release.
Healthcare services growth of 10 per cent year-on-year was led by new hospitals that reported 24 per cent revenue growth, while existing hospitals grew 7 per cent.
New hospitals do well
The consolidated PAT for the year declined by 46 per cent to ₹117 crore (₹216 crore) on 14 per cent increase in revenue to ₹8,243 crore (₹7,255 crore)
Apollo Hospitals witnessed an across-the-board increase in patient volumes in the fiscal. Overall occupancy across the group was at 4,670 beds or 65 per cent. The occupancy in mature hospitals was at 3,661 beds or 67 per cent, while new hospitals had occupancy at 1,009 beds or 58 per cent.
This quarter witnessed a ‘robust’ contribution to growth from new hospitals, especially Navi Mumbai, Malleswaram, Tiruchi, Vishakapatnam, Nashik and Nellore. The focus is to build on this momentum into the next fiscal, especially in the new hospitals, the release said.
Prathap C Reddy, Chairman, Apollo Hospitals, said the financial year 2017-18 was an eventful year for Apollo Hospitals. “We strengthened our position as a responsible healthcare leader with the addition of capacity, augmentation of clinical offerings, wider adoption of new technology even as we witnessed deeper acceptance of new formats by patients. Along with this, we were able to register stronger growth from newer facilities,” he said.
The government’s endeavour to provide health insurance to five crore families through the Ayushman Bharat initiative is transformative both for patients and service providers. The programme aims to address challenges pertaining to affordability and quality which, if achieved, will enhance access for a significantly large demographic and expand the market manifold, he said.
In 2017-8, Apollo added 475 stores and closed 10 stores for a net addition of 465 stores. The total network as of March 31, 2018, stands at 3,021 operational stores.
Apollo Munich Health Insurance Company’s gross written premium in 2017-18 grew by 32 per cent to ₹1,717 crore (₹1,299 crore).
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