Apollo Hospitals Q3 net profit up 80 pc to Rs 90 cr

Healthcare major Apollo Hospitals Enterprise on Thursday reported an 80.36 percent rise in consolidated net profit at Rs 89.96 crore for the quarter ended December on account of robust performance across verticals. The company had posted a net profit of Rs 49.87 crore in the corresponding period of the previous fiscal, Apollo Hospitals Enterprise said in a filing to the BSE.

Consolidated revenue from operations stood at Rs 2,911.74 crore for the quarter under consideration. It was at Rs 2,495.04 crore for the same period a year ago. The company's board has declared an interim dividend of Rs 3.25 per equity share of Rs 5 each for the financial year ending March 31, 2020, Apollo Hospitals Enterprise said.

"In addition to arming ourselves with newer offerings and treatment technologies, the resilience of our service model that offers comprehensive care across multiple centers and formats is enabling us to maintain a focused trajectory of growth amidst a dynamic and fluid operating environment," Apollo Hospitals Chairman Prathap C Reddy said. Even as Apollo Hospitals widens the suite of preventive healthcare offerings, "we are rapidly evolving our capabilities across key specialties such as oncology, neurosciences, orthopedics and critical care to meet the healthcare challenges of the nation," he added.

As on December 31, 2019, Apollo Hospitals had over 7,470 operating beds across the network (excluding AHLL and managed beds), out of which 14 were new hospitals with 1,990 operating beds. The new hospitals are expected to see an increase in volumes and utilization going forward, the company said. The total store network of standalone pharmacies as of December 31, 2019, stood at 3,700 operational stores, it added.

Apollo Health & Lifestyle Ltd (AHLL), a wholly-owned subsidiary that houses the retail healthcare business of Apollo Hospitals, had 917 centers in total as of December 31, 2019, the company said. Shares of Apollo Hospitals Enterprise on Thursday closed 1.41 percent higher at Rs 1,707.80 per scrip on the BSE.