Apollo Hospitals Q1FY23 consolidated profit down 35 pc YoY to Rs 323.78 cr
Chennai-based Apollo Hospitals Enterprises Ltd Friday announced a consolidated net profit of Rs 323.78 crore in the quarter ended June 30, down 35.3 percent year-on-year, owing to a slight improvement in marginal growth and shooting expenses, according to a regulatory filing with the stock exchanges.
The company had posted a consolidated profit of Rs 500.68 crore in the same period last financial year.
The health care provider said its consolidated revenue from operations stood at Rs 3,795.6 crore as against Rs 3,760.21 crore in the year-ago period.
In the healthcare services segment, the company earned revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year.
The clinic vertical clocked a lower revenue at Rs 293.01 crore against Rs 309 crore in the year-ago quarter, the company said.
The pharmacy distribution business logged a revenue of Rs 1,472.92 crore in the quarter ended June 30.
Apollo had reported a revenue of Rs 1,512 crore in the same period last fiscal.
The company said its expenses during the quarter stood at Rs 3,545.36 crore whereas it was Rs 3,475.58 crore in the same period last year.
The healthcare chain also said that the cost of materials used grew to Rs 612.37 crore during the quarter under review, from Rs 581.7 crore in the same quarter of last fiscal.
The healthcare provider said it completed the acquisition of a hospital asset in Gurugram for a consideration of around Rs 450 crore. The asset has a potential for 650 beds over 700,000 square feet and will be commissioned in 24 months.
"The acquisition marks the entry of Apollo in the state of Haryana with the promise of a world-class hospital to serve both local and international patients," Apollo Hospitals said in a statement.
The company tied up with Imperial hospitals Bangladesh to manage their 375-bed hospital in Chittagong, Bangladesh.
"Apollo has very strong brand equity in Bangladesh and we hope to leverage this to further enhance our clinical value proposition for Bangladesh," the company said in the filing.
It achieved stage 6 accreditations from Healthcare Information and Management Systems Society (HIMSS), including being only the second healthcare provider worldwide for Digital Imaging Adoption Model (DIAM).
Apollo integrated its proprietary AI-based Cardiovascular diseases tool (AIVCD) with Singapore-based ConnectedLife’s digital wellness solutions to dramatically improve the accuracy of cardiac disease prediction.
Apollo Education UK (AEUK) introduced the International Clinical Fellowship Programme (ICFP) for Doctors in collaboration with Global Training and Education Centre (GTEC) at Wrightington, Wigan and Leigh Teaching Hospitals NHS Foundation Trust, and Edge Hill University, UK.