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Apollo Hospitals Enterprises Ltd’s first quarter net profit increased 13 per cent to Rs 78.94 crore from Rs 69.74 crore in the corresponding quarter last year. Total income rose 15 per cent to Rs 895 crore (Rs 777 crore).
The growth was driven by healthcare services (hospitals) and the pharmacy division. Net sales from hospitals rose 11.5 per cent to Rs 590 crore (Rs 529 crore) while the pharmacy chain’s revenue grew 23 per cent to Rs 304 crore (Rs 247 crore).
New units, in their initial stages of operations, have reported operating losses of Rs 6 crore, said a company release.
Apollo plans to invest Rs 2,250 crore to set up 15 hospitals by 2016-17. It will add 3,000 beds, taking the total bed strength to 11,500 beds. Around 1,000 beds will be added this fiscal. Apollo also plans to expand the Reach (secondary care) hospital network in Tier 2 and 3 cities. The company’s Sugar Clinic Network will also be ramped up, said Prathap Reddy, Chairman, on the sidelines of Apollo’s AGM.
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