Apollo Hospitals Q1 net profit jumps over 2-fold to Rs 49.15 cr

Healthcare major Apollo Hospitals Enterprise on Tuesday reported over two-fold jump in consolidated net profit at Rs 49.15 crore for the quarter ended June 30, 2019, mainly on account of robust growth in healthcare services and pharmacy verticals.

The company had posted a consolidated net profit of Rs 23.34 crore in the corresponding period of the previous fiscal, Apollo Hospitals said in a filing to the BSE.

Consolidated revenue from operations stood at Rs 2,571.89 crore during the quarter under review as against Rs 2,210.47 crore in the same period a year ago.

"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," Apollo Hospitals Chairman Prathap C Reddy said.

"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," he added.

Revenues received a boost driven by positive trends at the mature hospitals, which reported revenue growth of 14 per cent, and an improved performance from the new hospitals, which reported revenue growth of 20 per cent, Apollo Hospitals said.

The first quarter of the current financial year saw the group register a good performance, both in the hospitals and pharmacy division, it added.

As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding Apollo Health and Lifestyle Ltd and managed beds), out of which 13 were new hospitals with 1,870 operating beds, the company said.

Shares of Apollo Hospitals Enterprise closed at Rs 1,338.20 on the BSE, down 1.60 per cent from the previous close.