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Spurred by revenue growth from new hospitals and higher pharmacy income, Apollo Hospitals recorded a 71 per cent increase in net profit at ₹60 crore for the quarter ended June 2018 as against ₹35 crore in the same period last year, according to a company release.
“We continue to strengthen our healthcare portfolio to benefit our patients and arm our doctors with the latest in artificial intelligence and medical technology,” said Prathap C Reddy, Chairman, Apollo Hospitals.
Standalone revenue from operations rose 16 per cent to ₹1,910 crore (₹1,650 crore). Revenue from operations was aided by a 20 per cent growth in standalone pharmacies and 12 per cent growth in healthcare services on a year-on-year basis.
The growth in healthcare services was led by new hospitals which contributed 23 per cent of the revenue (₹212 crore) while the existing hospitals’ revenue improved 10 per cent YoY. The company’s EBITDA improved by 31 per cent to ₹227 crore (₹173 crore).
In June 2018, the company acquired a 50 per cent stake in Lucknow-based Medics International Lifesciences Ltd, Limited, a 330-bed super-specialty hospital, for ₹91 crore, the release said.
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