Apollo Hospitals Q3 PAT climbs 60% YoY to Rs 245 cr

Apollo Hospitals Enterprise reported consolidated net profit of Rs 245.3 crore in Q3 FY24, registering a growth of 59.8% as compared from Rs 153.5 crore posted in Q3 FY23.

Revenue from operations stood at Rs 4,850.6 crore during the third quarter, up 13.77% from Rs 4,263.6 crore recorded in the same period last fiscal.

Profit before tax increased 36.63% year on year (YoY) to Rs 363.3 crore in the quarter ended 31 December 2023.

For Q3 FY24, total expenses spiked 12.59% YoY stood at 4,516.5 crore. Cost of material consumed was at Rs 603.3 crore (down 3.81% YoY), employee benefits expenses stood at Rs 612.9 crore (up 6.96% YoY) and finance cost stood at Rs 112.6 crore (up 12.6% YoY) during the period under review.

During the quarter, the company's revenue from Healthcare Services was Rs 2,483.2 crore (up 12.51% YoY) and revenue from Digital Health & Pharmacy Distribution was Rs 2,049.3 crore (up 16.58% YoY) and the revenue from Retail Health & Diagnostics stood at Rs 337.7 crore (up 8.45% YoY).

Meanwhile, the companys board declared an interim dividend of Rs 6 per share for the financial year ending 31 March 2024. The board has fixed the record date as 20 February 2024 for the said dividend and it will be paid on or before 6 March 2024.

Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.

The scrip rose 0.82% to end at Rs 6,229.75 on the BSE.

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