Apollo Hospitals Enterprise Ltd (AHEL) on Tuesday reported a 32 per cent growth in net profit on a standalone basis at Rs 79.32 crore during the quarter ended June 30, 2019, as compared to Rs 60.16 crore during the same period last year.
The total income stood at Rs 2,233.94 crore during the quarter, as against Rs 1,912.44 crore in the corresponding quarter last year, a growth of 17 per cent.
“We have made a strong start to the financial year building on the momentum gained last year to deliver steady growth in revenue and margins across all our verticals. We are hopeful that our efforts towards having a strong Pan-India presence and towards adopting new skills and cutting edge technology should help us in maintaining the momentum going forward as well,” said Prathap C Reddy, chairman, Apollo Hospitals.
On a consolidated basis, the net profit doubled to Rs 49.15 crore during the quarter as compared to Rs 23.34 crore during the corresponding quarter of the last fiscal. Total income stood at Rs 2,581.75 crore during the quarter as compared to Rs 2,215.11 crore during the same quarter last year, a growth of 16.6 per cent.
Healthcare services EBITDA during the quarter grew by 25 per cent year on year to Rs 231.5 crore, while overall EBITDA margins grew to 12.3 per cent during the quarter as against 11.86 per cent in same quarter last year.
The company is aiming to boost its the margins to 23 per cent by the first half of next financial year, the hospital said. The divestment of the front-end pharmacy business is expected to be completed by November, 2019.
Mature hospitals reported revenue growth of 14 per cent during the period, while new hospitals, launched in the last few years, reported a revenue growth of 20 per cent.
As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding AHLL & managed beds), out of which 13 were new hospitals with 1,870 operating beds. The new hospitals are expected to see an increase in volumes and utilisation going forward, said the company.
Gross written premium of Apollo Munich Health Insurance Company Ltd, in which AHEL is in the process of selling a stake to HDFC Ltd, grew by 39 per cent to Rs 486.6 crore during the quarter, from Rs 349 crore during same quarter last year. The net loss of the business widened to Rs 107.5 crore compared to a net loss of Rs 55 crore during same quarter last year. – Business Standard