Apollo Hospitals Enterprise reported a 46.6% year-on-year (YoY) reduction in consolidated net profit at Rs 173 crore in the first quarter of FY24, owing to increasing expenses. In the same period last year, the company reported a consolidated net profit of Rs 324 crore in a regulatory statement to stock exchanges.
Total expenses increased 18% year on year to Rs 4,181.9 crore, compared to Rs 3,545 crore in the same quarter previous fiscal, dragging down earnings.
It reported income from operations of Rs 4417.80 crore, up 16.4% from Rs 3795.60 crore in Q1FY23. For the June quarter of FY24, the company’s EBITDA was Rs 509.1 crore.
Apollo Hospitals
Healthcare division revenue increased 13% to Rs 2,294 crore in Q1 compared to Rs 2,023 crore in the same period last year.
During the reporting period, revenue from existing hospitals increased by 10%, while revenue from new hospitals increased by 23%.
At 3.15 p.m., Apollo Hospitals Enterprise Limited shares were trading at Rs 4,902.00 a share, down 0.42 percent. So far in 2023, the stock has gained 10.45%. Share prices have fallen in the recent month.
