Companies

Apollo Hospitals Q4 profit surges to ₹206 crore

Our Burea Chennai | Updated on June 25, 2020 Published on June 25, 2020

Apollo Hospitals Enterprise Ltd (AHEL) on Thursday reported a three-fold jump in standalone net profit for the fourth quarter at ₹206 crore as against ₹77 crore for the corresponding period last year. The company posted a net profit of ₹95 crore during the December quarter.

The standalone revenue from the operations of the hospital grew by 19 per cent to ₹2,572 crore in the January-March quarter aided by 6 per cent YoY growth in Healthcare services business and 33 per cent growth in Standalone Pharmacies (SAP) business. EBITDA (Pre Ind AS 116) for the fourth quarter grew by 8 per cent YoY to ₹288 crore (₹266 crore).

“The last quarter of FY20 saw the world facing the unprecedented threat of the novel coronavirus. The financial year 2020-21 will be challenging due to the effect of the Covid-19 pandemic. Covid has affected not just the Indian healthcare sector but also other sectors and the global economy,” Prathap C Reddy, Chairman, Apollo Hospitals, was quoted in a press statement.

"The short term may see an adverse impact on aspects such as medical value travel or medical tourism, but in the longer term, I am sure that healthcare being a resilient industry will bounce back to its normal growth,” Reddy added.

On a consolidated basis, revenues were up 17 per cent at ₹2,922 crore for the fourth quarter while profit after tax (PAT) was up by 169 per cent to ₹219 crore (₹81 crore).

Apollo Hospitals added 86 stores and closed 20 stores for a net addition of 66 stores in Q4FY20. The total store network as of March, 2020 stands at 3,766 operational stores.

Standalone revenue for the full year grew 17 per cent to ₹9,794 crore (₹8,336 crore) while PAT grew by a healthy 55 per cent ₹470 crore (₹303 crore).

Published on June 25, 2020

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