Apollo Hospitals Q4 net profit down 40% to Rs 48 cr

Healthcare major Apollo Hospitals Enterprise today reported a 40.76 per cent decline in standalone net profit at Rs 48.16 crore for the fourth quarter ended March, on account of increased expenditure.
The company had posted a net profit of Rs 81.31 crore in the January-March quarter of the previous fiscal, Apollo Hospitals said in a BSE filing.
However, the company's total standalone income rose 14.64 per cent to Rs 1,670.77 crore as against Rs 1,457.34 crore in the year-ago period.
Total expenses during the quarter shot up to Rs 1,612.17 crore as compared to Rs 1,358.07 crore in the year-ago period. This was mainly on account of spike in cost of materials consumed to Rs 668.84 crore as against Rs 270.47 crore in the same quarter of previous fiscal, the company added.

For the entire fiscal, Apollo Hospitals Enterprise reported a net profit at Rs 285.15 crore as compared to Rs 333.95 crore in the 2015-16 fiscal, down 14.61 per cent.
Total income from operations for the fiscal stood at Rs 6,467.66 crore as against Rs 5,621.04 crore in the year-ago period.

The company announced re-appointment of Prathap C Reddy as the executive chairman for five years subject to approval of member at the AGM. It also appointed T Rajgopal as the additional director.
Apollo Hospitals' board has recommended a dividend of Rs 6 per share for FY17.
Shares of Apollo Hospitals closed 0.40 per cent down at Rs 1,209.50 on BSE.