Indian healthcare company Apollo Hospitals has posted a profit of Rs2.33bn for the second quarter of fiscal year 2024 (Q2 FY24).
This marks a 14% increase from the Rs2.04bn profit reported in the same quarter last year.
The company’s earnings per share (EPS) stood at Rs16.20 in the July-September 2023 quarter, compared with Rs14.19 a year ago.
EBITDA rose 10.9% to Rs6.27bn in this quarter, from Rs5.65bn in Q2 FY23.
Revenues generated by the group were Rs48.67bn for the period that ended on 30 September 2023, a 14% increase from Rs42.64bn in the prior year.
Healthcare Services revenue amounted to Rs25.65bn in this quarter, a 12.6% growth from last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
At the Digital Health & Pharmacy Distribution segment, revenues rose 17% to Rs19.45bn, from $16.68bn. Retail Health & Diagnostics revenues rose 11.3% year-on-year to Rs3.54bn.
The Gross Merchandise Value (GMV) of Apollo 247 reached Rs7.26bn.
In addition, Apollo Hospitals expanded its presence in East India through the acquisition of a partially built hospital in Kolkata, West Bengal, adding 325 beds.
With a total of five hospitals in the region, Apollo’s Eastern India facilities now offer over 1,800 beds.
It has plans for an additional 700 beds in the next three years to reach a total of 2500 beds.
The company also entered a binding agreement for a new hospital in Pune, starting with 250 beds and expandable to 425 beds, contributing to a total bed count exceeding 1,000 in Maharashtra, including Mumbai, Pune, and Nashik.
Apollo Hospitals Group chairman Dr. Prathap C Reddy said: “For more than forty years, Apollo has spearheaded a healthcare revolution in India, leading the charge in delivering quality healthcare services throughout the nation.
“Our unwavering commitment drives us to extend the reach of our services far and wide, bolstered by investments in cutting-edge technologies and the ongoing enhancement of our existing facilities.
“Our relentless pursuit is to consistently elevate our services, ensuring superior care to our patients who deserve the best quality care and for the trust they placed in us for 40 years.
“We promise that we shall continue to do our best for them, always.”