Chennai-based Apollo Hospitals Enterprise’s profit grew 14 per cent y-o-y to ₹233 crore in Q2 FY24, compared with ₹204 crore during the corresponding quarter of the previous year.
The hospital operator’s overall revenue grew significantly at ₹4,847 crore (₹4,251 crore).
Its EBITDA has increased 11 per cent to ₹628 crore (₹565 crore). The company also announced that its digital health platform, Apollo HealthCo, was on track to achieve cash break-even in the fourth quarter of FY24. The platform has seen a significant increase in its user base, revenue and margins in the past six months.
Expansion plans
On September 27, Apollo Multispecialty Hospitals purchased a partially-constructed hospital in Sonarpur, Kolkata, with a 325-bed capacity.
Now, the company has also announced a 250-bed new hospital in Pune at ₹675 crore, and it is expected to be commissioned by Q1 FY25. With this expansion, Apollo will have over 1,000 beds in Maharashtra including Mumbai, Pune and Nashik, said the release. The stock closed at ₹5,304, up 3.78 per cent on Thursday.