Apollo Hospitals first quarter consolidated loss before tax stood at Rs 267 crore as against profit before tax of Rs 94.4 crore, a year ago. Net loss during the quarter was Rs 208 crore as compared to a profit of Rs 57.2 crore last year.

Revenue slumped by 16 per cent to Rs 2,171.5 crore from Rs 2,571.9 crore, a year ago.

The hospital chain's health care services and clinics were under pressure during the quarter, while pharmacy business reported positive growth in revenue and profitability.

Standalone revenues of the healthcare services division decreased by 42 per cent to Rs 6,82.4 crore in Q1FY21 compared to Rs 1,172.5 crore in Q1FY20. Revenue of existing hospitals slumped by 47 per cent while that in the new hospitals was down 30 per cent.

Prathap C Reddy, Chairman, Apollo Hospitals Group said, “The new financial year began with global healthcare services rising to the challenge of the Covid-19 pandemic. Economies faced financial upheavals due to business coming to a standstill as the world went into a lockdown. During this time of global crisis, Apollo Hospitals has led from the front and demonstrated agility in continuing to serve both Covid and non-Covid patients, and ensuring an iron curtain between them. Our technology as well as safety and infection control protocols are of international standards."

"As the nation begins unlocking, we are confident of weathering the initial setbacks that we faced due to the lockdowns. Our hospital operations, including surgical work, are showing good improvement in the last two months and we have, in addition to our work for Covid- 19, also accelerated the work on other diseases, especially NCDs," he added.