Apollo Hospitals Q2 Results: Profit Rises 17%, Meets Estimates
The Chennai-headquartered healthcare group's profit rose to Rs 248.8 crore in the second quarter.
Apollo Hospitals Enterprise Ltd.'s consolidated net profit increased in the quarter ended September, meeting analysts' estimates.
The Chennai-headquartered healthcare group's profit rose 17% to Rs 248.8 crore in the second quarter of fiscal 2024, according to an exchange filing on Thursday. That compares with the Rs 249.02 crore consensus estimate of analysts tracked by Bloomberg.
Apollo Hospitals Q2 FY24 Highlights (Consolidated, YoY)
Revenue up 14% at Rs 4,846 crore vs Rs 4,251crore (Bloomberg estimate: Rs 4,829.38 crore).
Ebitda up 11% at Rs 627.5 crore vs Rs 565.4 crore (Bloomberg estimate: Rs 621.32 crore).
Margin at 12.94% vs 13.3%, down 35 bps YoY (Bloomberg estimate: 12.90%).
Net profit up 17% at Rs 248.8 crore vs Rs 212.8 crore (Bloomberg estimate: Rs 249.02 crore).
Other Highlights
Healthcare services revenue was at Rs 2,547 crore, a 12% YoY growth.
Apollo Diagnostics revenue crosses landmark of Rs 123 crore in a quarter. Q2 FY24 revenue at Rs 124 crore; a 19% YoY growth.
Digital health and pharmacy distribution revenue at Rs 1,945 crore; a 17% YoY growth.
GMV of Apollo 247 at Rs 726 crore, a 16% QoQ growth.
Shares of Apollo Hospitals were trading 3.76% higher after the results were announced, as compared with a 0.27% decline in the benchmark Nifty, as of 3:05 pm.
