Apollo Hospitals Q1 net profit drops 47%, revenue up 16.4%

Healthcare major Apollo Hospitals Enterprise on Friday reported a 46.6 per cent year-on-year (YoY) decline in consolidated net profit at Rs 173 crore in the first quarter of FY24 amid higher expenses. The company, in a regulatory filing to stock exchanges, had posted a consolidated net profit of Rs 324 crore in the same period last fiscal.

Total expenses surged 18 per cent YoY to Rs 4,181.9 crore, compared to Rs 3,545 crore in the year-ago quarter of last fiscal, which dragged down the profits.

It posted revenue from operations at Rs 4417.80 crore, up 16.4 per cent in comparison to Rs 3795.60 crore during Q1FY23. The company EBITDA stood at Rs 509.1 crore for the June quarter of FY24.

Revenues of the healthcare division rose 13 per cent to Rs 2,294 crore in the Q1 compared to Rs 2,023 crore in the same quarter of last year.

Revenue from existing hospitals surged 10 per cent, while that from the new hospitals rose 23 per cent during the reporting period.

At 3.15 PM, shares of Apollo Hospitals Enterprise Limited were trading at Rs 4,902.00 apiece, down by  0.42 per cent.  In 2023, the stock has gained 10.45 per cent so far. In the last month, the share prices have declined 6.39 per cent.

The market capitalisation of Apollo Hospital is Rs 70,809.63 crore. The 52-week high for the stock is Rs 5,362 and the 52-week low is Rs 3989.1.