Apollo Hospitals has reported a consolidated profit after tax (PAT) of Rs2.45bn ($29.49m) in the third quarter (Q3) of fiscal year (FY) 2024, a 60% increase from Rs1.53bn in Q3 FY23.
In the three months ending in December 2023, the hospital operator’s revenue totalled Rs48.51bn. This represented an increase of 14% from Rs42.63bn in the same quarter a year ago.
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This growth in group revenue was largely attributed to Apollo Hospitals’ healthcare services division, where consolidated revenue rose 12% to Rs24.64bn in Q3 FY 2024, from Rs21.94bn in Q3 FY 2023.
The group’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs6.14bn in Q3 FY 2024, an increase of 21% from Rs5.05bn in the corresponding quarter of FY 2023.
This EBITDA value includes the costs associated with Apollo 247, which amounted to Rs1.56bn in the quarter.
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For the year-to-date (YTD) period of FY 2024, Apollo Hospitals’ consolidated PAT was Rs6.45bn, a decrease from Rs6.75bn in the previous year.
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By GlobalDataThe company, which operates over 70 hospitals across India, saw its revenue reach Rs141.15bn in the YTD period ending December FY 2024, marking a 15% rise from Rs123.1bn a year ago.
EBITDA for the YTD period increased 12% year-on-year to Rs17.5bn, after accounting for Apollo 247 costs of Rs5.57bn, compared with Rs15.62bn in the prior year.
As of 31 December 2023, Apollo Hospitals had 7,911 operating beds across its network, excluding its subsidiary Apollo Health and Lifestyle Limited and managed beds.
Of these, 2,528 were new, with 1,584 occupied beds.
The overall occupancy rate for the hospitals was 65%, compared with 64% in the prior year, due to an increase in patient flows across the network.
Apollo Hospitals Group chairman Dr Prathap C Reddy said: “In the pursuit of a healthier nation, Apollo remains steadfast in its belief in the importance of preventive healthcare.
“Combining medical expertise with artificial intelligence, this programme, curated by skilled physicians, evaluates overall health, predicts risks, and guides individuals on a personalised path to wellness.”
