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Chennai, NFAPost: Apollo Hospitals Enterprise has posted over two-fold jump in consolidated net profit at Rs 49.15 crore for the first quarter ended June 30, 2019, compared with Rs 23.34 crore in the corresponding quarter of the last fiscal, due to strong performance in healthcare services.

Its shares touched 52-week high of Rs 1,445 apiece on the BSE on Wednesday.

The hospital’s revenue from operations stood at Rs 2,572 crore, an increase of 16% from the same quarter of the last financial year. Its revenue from operations stood at Rs 2,210 crore in the corresponding quarter.

Dr Prathap C Reddy, Chairman, Apollo Hospitals said, “We have made a strong start to the financial year building on the momentum gained last year to deliver steady growth in revenue and margins across all our verticals. We are hopeful that our efforts towards having a strong Pan-India presence and towards adopting new skills and cutting edge technology should help us in maintaining the momentum going forward as well.”

He added that Apollo’s new hospital in Lucknow has shown a good response from patients. “The upcoming one in Kerala is showing good progress and should be completed on schedule. We look forward to continued all-round growth in the current year,” he said.

The first quarter also saw the announcement relating to HDFC acquiring the entire 50.8% shareholding of Apollo Group in Apollo Munich Health Insurance Company Ltd., including 10% held by Apollo Hospitals Enterprise Ltd.

As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding AHLL & managed beds), out of which 13 were new hospitals with 1,870 operating beds. The new hospitals are expected to see increase in volumes and utilisation going forward, the company said in a fling to the BSE.

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