Chennai-based Apollo Hospitals Enterprises Ltd registered a 7.4-per cent decline in standalone net profit at ₹67 crore for the quarter ended December 31, 2017.
The hospital chain had posted net profit of ₹72.83 crore for the same period last year. The company’s standalone revenue grew 13 per cent to ₹1,904 crore as against ₹1,683 crore between October and December 2016. Operating profit grew 14 per cent at ₹221 crore for the third quarter. Revenue from healthcare services was ₹1008.21 crore, up 13 per cent from ₹891.89 crore. Pharmacies reported revenue of ₹888.09 crore, up 12 per cent against ₹788.84 crore for the comparable quarter last year. As of December 31, 2017 there are 2,849 pharmacies operational.
According to a senior official from the hospital, the drop in profit is primarily due to 13 new hospitals that were commissioned in the last four years with a capital of ₹2,000 crore, adding 2,400 beds. Once these hospitals start doing well it will contribute to increase in bottomline, the official added.