Apollo Hospitals Q3 PAT slides 33% YoY to Rs 153 cr

The healthcare major's consolidated net profit tumbled 32.8% to Rs 153.46 crore in Q3 FY23 as compared to Rs 228.37 crore in Q3 FY22.

However, revenue from operations stood at Rs 4,263.58 crore during the quarter, up 17.2% from Rs 3,638.93 crore recorded in the same period last fiscal.

Profit before tax dropped 27.74% year on year to Rs 265.82 crore in the quarter ended 31 December 2022.

Consolidated EBITDA was at Rs 505.4 crore in Q3 FY23, down 13.9% as against Rs 587 crore posted in Q3 FY22. EBITDA margin reduced to 11.9% in the third quarter as compared to 16.1% reported in Q3 FY22.

During the quarter, the company's revenue from Healthcare Services was Rs 2,207.08 crore (up 9.05% YoY) and revenue from Digital Health & Pharmacy Distribution was Rs 1,757.82 crore (up 34.45% YoY). However, the revenue from Retail Health & Diagnostics declined marginally to Rs 311.38 crore in Q3 FY23.

As on 31 December 2022, Apollo Hospitals had 7,855 operating beds across the network (excluding AHLL & managed beds), out of which 14 were new with 2,384 operating beds. The new hospitals have a utilization of over 62% and are expected to witness double digit growth in volumes and improvement in utilization and profitability going forward.

Average revenue per operating bed (ARPOB ) stood at Rs 51,208 in YTD December FY22, rising 15.4% from Rs 44,374 registered in YTD December FY21.

Dr. Prathap C Reddy, chairman of Apollo Hospitals Group said, At Apollo Hospitals, our sustained focus on integrated healthcare with a holistic approach is creating a new model for delivery of healthcare. Today, our vertically integrated care delivery begins from prevention through Digital Health including Apollo ProHealth and extends to remote care and management through Apollo 24/7. It includes Diagnostics and Retail Health with our Clinics, Dialysis Centres, Birthing Centres and Dental Centres. It extends to our tertiary and quaternary care Hospitals with Centres of Excellence in various specialties such as cancer, heart disease, and more.

Meanwhile, the company's board has declared an interim dividend of Rs 6 per share for the financial year ending 31 March 2023. The record date for the same is fixed on Friday, 24 February 2023 and the dividend will be paid to the shareholders on the close of business hours of 23 February 2023.

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

Shares of Apollo Hospitals Enterprise gained 2.74% to Rs 4,382.45 on the BSE.

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