The company reported an over two-fold jump in consolidated net profit to Rs 209.60 crore for Q4
Apollo Hospitals Enterprise gained over 2 percent after the company reported its March quarter results.
Healthcare major Apollo Hospitals Enterprise on June 25 reported an over two-fold jump in consolidated net profit to Rs 209.60 crore for the March quarter, mainly on account of one-off gains.
The company had posted a net profit of Rs 72.80 crore in the corresponding period of the preceding fiscal, Apollo Hospitals said in a statement.
The stock price has gained 24 percent in the last 3 months.
On June 26, it was trading at Rs 1,471.35, up Rs 33.50, or 2.33 percent. It was also one of the most active stocks on NSE in terms of value with 1,69,112 shares being traded.
Consolidated revenue from operations stood at Rs 2,922.43 crore for the quarter under consideration. It was Rs 2,499.50 crore for the same period a year ago, it added.
"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," Apollo Hospitals Chairman Prathap C Reddy said.
Japanese research firm Nomura has maintained a buy call on the stock with target at Rs 2,100 per share. It is of the view that hospital revenue business was negatively impacted by Rs 70 crore amid lower footfalls, according to a report by CNBC-TV18.
The research firm feels that overall EBITDA of the company was impacted due to higher sales contribution from lower margin business.
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