Apollo to Fortis, hospitals not in the pink of health amid Covid-19 crisis

Analysts, too, are hopeful of the long-term prospects of hospital companies, but caution that the Covid-19 situation is evolving and near-term uncertainties continue

The impact of the lockdown was clearly visible in the March quarter (Q4) performance of major hospital companies, such as Apollo Hospitals, Fortis Healthcare, and Narayana Hrudayalaya. The Covid-19 pandemic has not only affected outpatient services, but also led to deferment of elective surgeries, and resulted in the loss of medical tourism, all of which would hit the FY21 financials.
 

Apollo Hospitals results announced on Thursday bear testimony to the impact of lower footfall on its hospital segment. The lockdown in end-March (nine days), with only limited services permitted, led to a Rs 70-crore revenue loss in the hospital segment