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Apollo Hospitals Shares Gain 4% on Strong Q2 Earnings; Net Profit at Rs 233 Crore

The hospital chain reported a 14.2% YoY growth in its net profit to Rs 233 crore.

Shares of Apollo Hospitals were trading 4% higher on 9 November after the company announced its Q2 earnings for the current fiscal year. 

The hospital chain reported a 14.2% year-on-year (YoY) growth in its net profit to Rs 233 crore for the quarter from Rs 213 crore reported in the year-ago quarter. 

The revenue of the company during the quarter was at Rs 4,847 crore, which is a 14% YoY increase from Rs 5,251.07 crore reported in the same quarter during the previous fiscal year. 

The EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter stood at Rs 635 crore, whereas the EBITDA margins expanded by 32 basis points to 24.9% for Q2FY24. 

Apollo Hospitals Group chairman Prathap C Reddy said, “Our vision for the future is firmly grounded in the commitment that no individual should go untreated due to limited access to quality care. With India’s growing burden of non-communicable diseases (NCDs), we underscore the urgency of making preventive health checks a national priority. These measures are essential to address the emerging health challenges in our country, and we are dedicated to spearheading this initiative.”

As of 30 September, the hospital chain had 7,765 operating beds across its portfolio, of which 5,051 beds were occupied. 

Apollo HealthCo, which comprises Apollo 24/7 and the backed pharma business, reported opening 98 new stores during the quarter, taking the total count to 5,671 stores across the country. 

The company’s clinic business, Apollo Health and Lifestyle, reported an 11% YoY increase in its revenue during the quarter to Rs 354.2 crore. Moreover, the diagnostics business of the company added 400 new collection centres during the quarter. 

At 3:30 pm, the shares of Apollo Hospitals closed 3.70% higher at Rs 5,300 on NSE. 

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