Apollo Hospitals Enterprises Ltd Aims to Increase Average Occupancy to 68-70% by FY24
Apollo Hospitals Enterprises Ltd, one of India’s largest healthcare providers, has reported a 60% surge in its consolidated net profit to ₹145 crores for the March quarter. The company aims to increase the average occupancy across its hospitals to 68-70% in FY24. The focus remains on growing Tower Specialties of Cardiac, Oncology and Neurology, in addition to Nephrology, Gastroenterology, and Orthopedics.
Key Highlights:
– Consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to ₹706 crores, reflecting a YoY growth of 29%.
– Apollo Hospitals saw a revenue spike of 21% YoY, amassing ₹4302.2 crores in revenue.
– Healthcare Services (HCS) segment is credited as the main driver of this growth, registering a revenue increase of 18% YoY to ₹2,195 crores.
– Apollo Hospitals is eyeing expansion in major metropolitan areas including Delhi and Mumbai, alongside efforts to enhance occupancy and growth in the Karnataka cluster.
– Plans are underway to add 2,000 beds with a projected investment of over ₹3000 crores ($404 million) over the next four years.
– Apollo Health and Lifestyle Ltd (AHLL), Apollo’s diagnostics and retail health subsidiary, saw its revenues reach ₹308.5 crores in Q4FY23.
– Apollo HealthCo Ltd., a wholly-owned subsidiary that includes the pharmacy distribution business, Apollo24/7, and a 25.5% stake in Apollo Pharmacies Ltd, reported a revenue of ₹1799.2 crores in Q4 FY23, marking a YoY growth of 31%.
Apollo Hospitals is optimistic about turning its non-COVID diagnostics business profitable by Q4FY24. The company has added 500 new collection centers, bringing the total to over 1,600 centers across 200 cities. Shares of Apollo Hospitals traded at ₹4,668.45, up 1.5% on Wednesday.
In conclusion, Apollo Hospitals Enterprises Ltd’s strong financial performance and expansion plans indicate a positive outlook for the company’s growth in the healthcare sector.
Sources:
1. Live Mint: https://www.livemint.com/companies/company-results/apollo-hospitals-q4-net-profit-rises-60-to-rs-145-crore-11654741271179.html
2. The Mint News App: https://www.livemint.com/download-the-mint-app
