Apollo Hospitals Q2 profit drops 29% to Rs 59 cr, revenue down 2.8%

Apollo Hospitals has reported a 29 per cent drop in profit during the second quarter ended September 30, 2020 to Rs 59 crore as compared to Rs 83 crore, during the same period last year. Revenue dropped by 2.8 per cent to Rs 2,761 crore from Rs 2,840 crore.

Standalone revenues of the healthcare services division decreased by 18% to Rs 1,062.6 crore in Q2FY21 compared to Rs 1290.9 crore in Q2FY20. Revenue of existing hospitals degrew 25% while the new hospitals grew by 5%.

Post the NCLT approval, the demerger of the front-end of the Pharmacy business came into effect from 01.09.2020. AHEL continues to handle the back-end pharma distribution, within a vertical called “Pharmacy Distribution”. Due to the demerger, the figures of the current quarter for the pharmacy business are not comparable to the previous quarters.

Revenues stood at Rs 1351.9 crore in Q2FY21 as against Rs 1172.7 crore in Q2FY20. EBITDA was 22% from Rs 70.8 crore in Q2FY20 to Rs.86.5 crore in Q2FY21. The EBITDA margin was at 6.4% in Q2FY21 compared to 6.04 % in Q2FY20.

Apollo Health & Lifestyle Ltd. (AHLL) is a subsidiary that houses the retail healthcare business of Apollo Hospitals, Consolidated revenues degrew to Rs 171.5 crore in Q2FY21 compared to Rs 181.5 crore in Q2FY20. The business reported an EBITDA of Rs. 4.9 crore in Q2FY21 compared to Rs 2.5 crore in Q2FY20.