Apollo Hospitals Enterprise slips after Q1 PAT contracts 35% YoY

Apollo Hospitals Enterprise declined 2.40% to Rs 4327.75 after the company reported 35.2% drop in consolidated net profit to Rs 317.11 crore in Q1 FY23 from Rs 489.28 crore in Q1 FY22.

Revenue from operations rose by 0.9% YoY to Rs 3795.60 crore during the quarter.

On the segmental front, revenue from Healthcare Services was Rs 2,032.07 crore (up 4.7% YoY), revenue from Pharmacy Distribution was Rs 1,472.92 crore (down 2.6% YoY), revenue from Clinics was Rs 293.01 crore (down 5.2% YoY) and revenue from Others was Rs 1.16 crore (up 9.4% YoY) in the first quarter.

The 24/7 Digital segment recorded revenue of Rs 6.26 crore during the period under review.

Profit before tax in Q1 FY23 stood at Rs 254.28 crore, down by 57.6% from Rs 599.23 crore in Q1 FY22.

As compared with Q4 FY22, the company's net profit and revenue are higher by 3.5x and 7%, respectively.

Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.

The scrip rose 0.34% to currently trade at Rs 577.40 on the BSE.

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