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Apollo Hospitals’ net profit up 13.2%; revenues rise 15% in Q1 led by pharmacy business

Chennai-based and public-listed Apollo Hospitals Enterprise Ltd, the largest hospital chain operator in the country and the top hospital firm by market capitalisation, has reported 13.19 per cent growth in net profit to Rs 78.94 crore for the first quarter ended June 30, 2013, over the year-ago period, backed by healthy growth in revenues.

The firm reported 15 per cent increase in revenues for the first quarter to Rs 895.04 crore, compared to Rs 777.39 crore reported for Q1 FY13. 

The company also said that Shashank Singh, who represented the private equity firm Apax Partners on the board of Apollo, had resigned. This follows the exit of the PE firm from its six-year-old investment in Apollo earlier this year.

Business segments

The company recorded highest growth in revenue from its pharmacy business. It reported 22.83 per cent rise in revenue for Q1 FY14 at Rs 304.22 crore as compared to Rs 247.66 crore clocked for Q1 FY13. Margins rose in the pharmacy business with the segment profit growing 71.5 per cent in the same period to Rs 6.5 crore.

The revenue for its key hospitals business grew 11.5 per cent to Rs 590.89 crore for Q1 FY14 as compared to Rs 529.90 crore for Q1 FY13. However, its margins from the hospital services unit shrank with the segment profit growing 7.1 per cent to Rs 108.7 crore during the quarter.

(Edited by Sanghamitra Mandal)

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