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Apollo Hospitals results: Profits shrink amid rising spending – key points

By on August 12, 2022 0

Healthcare chain Apollo Hospitals Enterprise on Thursday reported a 35.33% decline in consolidated net profit to Rs 323.78 crore in the first quarter of FY23 amid higher spending and a marginal revenue growth.

The company had posted a consolidated net profit of Rs 500.68 crore in the same period last year, Apollo Hospitals Enterprise Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 3,795.6 crore compared to Rs 3,760.21 crore a year ago, it added.

Vertical Health Services recorded revenue of Rs 2,032.07 crore compared to Rs 1,941.24 crore in the same period last year, while clinic segment revenue was below Rs 293.01 crore compared to Rs 309 crore in the prior year quarter, the company said. .

Revenue from the pharmacy distribution business was also lower at Rs 1,472.92 crore in the first quarter compared to Rs 1,512 crore in the same period of the previous fiscal year, according to the filing.

Total expenditure during the quarter was higher at Rs 3,545.36 crore compared to Rs Rs 3,475.58 crore in the same period last year. The cost of materials consumed rose to Rs 612.37 crore from Rs 581.7 crore in the first quarter of the previous fiscal year, the healthcare chain said.