 "Apollo Hospitals Q2 profit rises 11% to Rs 789 mn on rising revenue")
Healthcare major Apollo Hospitals Enterprise on Wednesday reported a 11.39 per cent rise in its standalone net profit to Rs 789.8 million for the quarter ended September 30, 2018, mainly on account of rising in revenue from operations.
The company had posted a net profit of Rs 709 million for the corresponding period of the previous fiscal, Apollo Hospitals Enterprise said in a filing to BSE.
Revenue from operations of the company stood at Rs 20.90 billion for the quarter under consideration. It was Rs 18.13 billion for the same period a year ago.
The company's board on Wednesday approved a scheme of arrangement between Apollo Hospitals Enterprise and Apollo Pharmacies Ltd (APL) and their respective shareholders for the transfer of the front-end retail pharmacy business carried out in the standalone pharmacy segment to APL by way of slump sale, the filing said.
Shares of Apollo Hospitals Enterprise closed at Rs 1,166.15 per scrip on BSE, up 1.82 per cent, from its previous close.
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