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Informist, Wednesday, Nov. 6, 2024

 

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--Apollo Hosp operating beds 7,994 on Sept 30 
--Apollo Hosp Jul-Sept hospitals ops occupancy rate 73% vs 68% year ago 
--Apollo HealthCo Jul-Sept sales INR 22.82 bln vs INR 19.45 bln 
--Apollo Hosp Jul-Sept health & lifestyle sales INR 4.04 bln vs INR 3.54 bln 
--Apollo Hosp Jul-Sept healthcare svcs sales INR 29.03 bln vs INR 25.47 bln 
--Apollo Hosp Jul-Sept consol EBITDA INR 8.16 vs INR 6.28 bln 
--Apollo Hosp Apr-Sept consol revenue INR 106.75 bln vs INR 92.65 bln 
--Apollo Hosp Apr-Sept consol net profit INR 6.84 bln vs INR 4.00 bln 
--Apollo Hosp Jul-Sept consol revenue INR 55.89 bln vs INR 48.47 bln 
--Apollo Hosp Jul-Sept consol net profit INR 3.79 bln vs INR 2.33 bln 
--Analysts saw Apollo Hosp Jul-Sept consol net profit INR 3.59 bln 
--Apollo Hosp Jul-Sept consol net profit INR 3.79 bln 
--Apollo Hospitals shares up ahead of Jul-Sept earnings 
--Apollo Hospitals shares at INR 7,083.50, up INR 117.20 or 1.7%

 

By Narayana Krishna

 

HYDERABAD - Apollo Hospitals Enterprise Ltd. Wednesday reported a consolidated net profit of INR 3.79 billion for September, up 63% on year, led by robust growth in its hospitals business. The company's revenue for the quarter rose 15% on year to INR 55.89 billion aided by growth across all business segments.

 

The Jul-Sept earnings of Apollo Hospitals were above analysts’ expectations. Analysts had estimated the company's net profit at INR 3.60 billion on a revenue of INR 54.90 billion.

 

While the Jul-Sept performance was above estimates, Chennai-based Apollo Hospitals has been consistently reporting revenue growth in the 14-16% range for the last five quarters. The company’s net profit growth for the reporting quarter, however, is lower than the profit growth it reported in the previous two quarters.

 

Improved occupancy in the hospitals business and double-digit growth in all segments helped the company report better-than-expected performance for the September quarter. Sequentially, the company's net profit increased 24% and revenue by 10%.

 

In the healthcare services segment, primarily the hospitals business, the company reported sales growth of 14% year-on-year to INR 29.20 billion for Jul-Sept. As of Sept. 30, the company had 7,994 operating beds. The occupancy rate for the quarter improved to 73% from 68% a year ago.  

 

The pharmacy retail arm Apollo HealthCo reported 17% on-year rise in revenue to INR 22.82 billion. Apollo Health and Lifestyle, the retail health services arm of Apollo Hospitals, reported 14% on-year growth in revenues to INR 4.04 billion. 

 

Apollo Hospitals said it saw strong patient flow across its hospitals during the quarter, boosting occupancy. The business growth of Apollo Health and Lifestyle was supported by a robust increase in its diagnostic services business.

 

Apollo HealthCo, the arm that operates Apollo Hospitals Enterprise's pharmaceutical distribution and retail businesses and digital health platform, reported all-round growth in all its segments, the company said in a press release. During the quarter, Apollo Healthco opened 154 new retail pharmacy stores, taking the total number of stores to 6,228. The Apollo 24x7 digital platform's gross merchandise value rose by 2% on year to INR 7.6 billion.

 

Apollo Hospitals reported its consolidated earnings before interest, tax, depreciation, and amortisation for the quarter at INR 8.16 billion, higher than the Street's estimate of INR 7.71 billion. The company’s EBITDA margin for the quarter expanded by 164 basis points on year to 14.59%, according to a calculation by Informist based on the company’s filing. Analysts had expected the company's EBITDA margin in the range of 13.5-14.4%.

 

The company's total expenses for the quarter were up 13% on year to INR 50.8 billion, and the other expenses increased 9% on year to INR 12.2 billion. Finance cost for the quarter increased by 6% on year to INR 1.2 billion. The tax outgo rose over 24% on year to INR 1.62 billion.

 

For Apr-Sept, the company's net profit was 71.2% higher on year to INR 6.84 billion, and revenue increased by 15.2% on year to INR 106.75 billion. On Wednesday, Apollo Hospitals Enterprise shares ended at INR 6,968.10 on the National Stock Exchange, up marginally.  End

 

Edited by Rajeev Pai

 

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