Apollo Hospitals gets shareholders' approval to issue Rs 5-billion NCDs

Apollo Hospitals, India's largest hospital chain, on Friday informed stock exchanges that its shareholders had approved its plan to raise Rs 5 billion via issue of non-convertible debentures (NCDs). The issue was taken up for discussion at the company’s 37th annual general meeting on Thursday. 

The Prathap Reddy-led company had last month reported a strong 70.86 per cent year-on-year net profit growth during the quarter ended June 30 to Rs 601.6 million. It had posted a profit of Rs 352.1 million during the same period the previous year.

The company’s revenue during the June quarter grew 16 per cent to Rs 19.12 billion, compared with Rs 16.46 billion in the same period of 2017. Apollo Hospitals had also reported 12 per cent growth in healthcare services and 20 per cent in standalone pharmacies.