Apollo Hospitals announces Q1 results; Registers over 35 percent drop in net profit to Rs. 317 crore

According to the Hospital group, in Q1FY23, the company’s total income stood at ₹3,811.66 crore compared to ₹3,784.85 crore in the corresponding period a year ago.

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Also, the company's clinics business witnessed revenue of ₹293.01 crore in Q1FY23 versus ₹309 crore in Q1FY22. (File)

Apollo Hospitals on Thursday released its Q1 results and reported a decline of 35.12% to ₹317.11 crore on a consolidated basis for the quarter ending June 30, 2022 (Q1FY23) compared to a profit of ₹489.28 crore in the same quarter last year. On the contrary, the company posted a whopping 251.8% jump in Q1 PAT compared to ₹90.14 crore in the preceding quarter, as per the company’s statement.

Consolidated revenue from operations stood at ₹3,795.60 crore in Q1FY23 slightly up from ₹3,760.21 crore in Q1 last year. However, the revenue climbed over 7% from ₹3,546.43 crore in Q4FY22.

According to the Hospital group, in Q1FY23, the company’s total income stood at ₹3,811.66 crore compared to ₹3,784.85 crore in the corresponding period a year ago.

On segment-wise performance, the company’s healthcare services business recorded revenue of ₹2,032.07 crore in Q1FY23 versus ₹1,941.24 crore in Q1FY22. Further, it garnered revenue of ₹6.26 crore in 24X7 digital business during Q1 of the current fiscal.

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Also, the company’s clinics business witnessed revenue of ₹293.01 crore in Q1FY23 versus ₹309 crore in Q1FY22. Meanwhile, the pharmacy distribution segment saw a revenue of ₹1,472.92 crore in Q1FY23 against ₹1,512 crore in Q1 of FY22. Other business revenue came in at ₹1.16 crore compared to ₹1.06 crore in Q1FY22.

“The first quarter of the new financial year has seen a definitive increase in the demand for non-COVID health services and augurs well for growth this financial year. We have been able to serve a larger number of patients with non-communicable diseases (NCDs) and restore them to health. At the same time, our focus on preventive healthcare has continued to help patients manage chronic conditions and nip them in the bud,” Dr Prathap C. Reddy, Chairman, Apollo Hospital Group said in a statement.

Meanwhile, Apollo Hospitals’ total expenses picked up to ₹3,545.36 crore in Q1FY23 against ₹3,475.58 crore in the same quarter of FY22.

On BSE, the company’s shares closed at ₹4,434.25 apiece down by ₹84.80 or 1.88%. The shares have touched an intraday high and low of ₹4,555 apiece and ₹4,415.30 apiece respectively. The company’s market cap is around ₹63,757.71 crore.

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