Apollo Hospitals Reports 76% Profit Surge, Leads Healthcare Innovation

Apollo Hospitals reported a 76% increase in net profit to Rs 254 crore for Q4, with revenues rising to Rs 4,944 crore. For the fiscal year ending March 2024, net profit stood at Rs 899 crore, supported by revenue of Rs 19,059 crore. The focus includes cancer care and new technologies.

Apollo Hospitals on Thursday reported a 76 per cent increase in consolidated net profit to Rs 254 crore for the March quarter.

The healthcare major had reported a net profit of Rs 144 crore in the January-March period of the 2022-23 fiscal year.

Revenue from operations rose to Rs 4,944 crore for the fourth quarter as compared with Rs 4,302 crore in year-ago period, Apollo Hospitals Enterprise said in a regulatory filing.

For the year ended March 31, 2024, the company posted a net profit of Rs 899 crore as compared with Rs 819 crore in FY23.

Revenue from operations rose to Rs 19,059 crore last fiscal as against Rs 16,612 crore in FY23. ''While Apollo leads the paradigm shift in healthcare focused on prevention of diseases, we are committed to advance our research efforts and leverage cutting-edge, new-age technologies like Al and robotics to enhance patient outcomes,'' Apollo Hospitals Chairman Prathap C Reddy said.

Cancer is one of the company's key focus areas given the increasing incidence of the disease being reported in India, making the country a potentially the cancer capital of the world, he added.

The healthcare provider said its board has approved a final dividend of Rs 10 per share of the face value of Rs 5 per share to the shareholders of the company for the FY24.

The nomination and remuneration committee has approved the re-appointment of Prathap C Reddy as a wholetime director designated as Executive Chairman for a period of two years -- June 25, 2024.

Apollo board also recommended that Shobana Kamineni assume office as the Executive Chairperson of Apollo Health Co Ltd, its material unlisted subsidiary.

Shares of the company on Thursday ended 2.47 per cent down at Rs 5,761 apiece on the BSE.