Apollo Hospitals has posted a 12.5 per cent year-on-year rise in Q2 net profit at Rs 55.76 crore, while standalone revenues rose 19.3 per cent to Rs 699.75 crore, on the back of “sustained” growth in healthcare services and higher same-store sales in pharmacy business.
Profit after tax before forex translation charge was up 25 per cent to Rs 59 crore. The hospital division revenues increased 16.9 per cent to Rs 491.5 crore in Q2FY12 over the same period last year.
Apollo Pharmacies reported a 25.4 per cent growth in revenues at Rs 208.5 crore. During Q2, the company added 92 stores and closed 55 underperforming stores – taking the network to 1,257 stores. The business reported improved profitability with EBIT of Rs 1.7 crore in Q2FY12 against Rs 0.57 crore in Q2FY11.
Apollo Hospitals is evaluating a 250-bed hospital management agreement in Rwanda, Africa. This is in addition to the joint venture with the Government of Tanzania to set up a 250-bed tertiary care hospital in Dar es Salaam. The group is also engaged in a 250-bed hospital project management in Chittagong — which will be its second hospital in Bangladesh.
Apollo's consolidated revenues for the quarter was up 20.4 per cent at Rs 784 crore. Profit after tax was Rs 55 crore (Rs 51 crore).
Dr Prathap C Reddy, Chairman, said, “Healthcare services have exhibited sustained growth due to focus centres-of-excellence. Introduction of robotics planned across seven key locations will heighten our clinical offerings and medical outcome.
“The momentum in standalone pharmacy business, combined with improving metrics and profitability, validates our belief in this business as a value provider and key component of our integrated healthcare model.”
Apollo Hospitals plans to come up with three hospitals in 2-3 years, at an investment of Rs 600 crore. This consists of a 350-bed centre in South Chennai, a 60-bed mother-and-child cradle centre and a 250-bed hospital in Patna.