Apollo Hospitals net profit dips 35% to Rs 323.78 crore in June quarter

Apollo Hospitals Enterprise has posted a 35 per cent dip in net profit for the April to June quarter of the financial year 2022-23 to Rs 323.78 crore, as compared to Rs 500.68 crore during the same period last financial year.

The company’s revenue from operations dipped marginally by 1 per cent during the quarter under review to Rs 3,795.60 crore, as against Rs 3,760.21 crore. The net profit was after a deferred tax reversal of Rs 154 crore. Apollo’s total expenses increased marginally by 2 per cent during the quarter, to Rs 3,545.36 crore as compared to Rs 3,475.58 crore in the same period last year

During the quarter under review, Apollo’s healthcare segment revenue stood at Rs 2,032.07 crore, up 5 per cent compared to Rs 1,941 crore during the April to June quarter in 2021-22. The revenue from another major segment, pharmacy distribution, came down by 3 per cent from Rs 1,512 crore during the Q1 of 2021-22 to Rs 1,472.92 crore during the first quarter of 2022-23. The revenue from clinics segment also dropped to Rs 293.01 crore during the period under review, as compared to Rs 309 crore during the same quarter last financial year.