Apollo Hospitals Q1 Results: Consolidated profit falls 46% YoY, EBITDA rises 13%; check details

Apollo Hospitals Enterprises on Friday reported a 46.5 per cent year-on-year (YoY) decline in its consolidated net profit at ₹173.4 crore for the June quarter of the current financial year (Q1FY24) against a profit of ₹323.9 crore in the same quarter last year.

Revenue from operations, however, rose 16.4 per cent YoY to ₹4,417.8 crore against ₹3,795.6 crore in Q1FY23. Consolidated EBITDA excluding 24/7 operating cost and ESOP charge stood at ₹712.9 crore, up 13 per cent YoY, the company said in a BSE filing.

Segment-wise, healthcare services revenue grew to ₹2,293.7 crore, rising 13 per cent YoY growth while Healthco revenues grew to ₹1,805.4 crore, up 22 per cent YoY growth and, as per the company, is on track for break even in Q4FY24.

"We have witnessed healthy growth and performance in the first quarter of the fiscal year 2024. Apollo Hospitals remains dedicated to advancing healthcare excellence, embracing innovation, and expanding our reach to provide quality medical services to even more communities," said Dr. Prathap C Reddy, Chairman of Apollo Hospitals Group.

The company highlighted it is using AI (artificial intelligence) across the healthcare spectrum which is a remarkable fusion of technology and human touch in the healthcare space.

"The escalating global challenge of non-communicable diseases (NCDs) continues to put at risk the health of communities at large. We are determined to face this challenge head-on, bolstered by our commitment to technology-led healthcare. At Apollo, we have harnessed AI as a powerful ally to make it an integral part of our healthcare ecosystem," said Reddy.

"With tools like the AI CVD, AI-enabled Apollo ProHealth platform, the Apollo Clinical Intelligence Engine (Apollo CIE), AI-integrated radiology and diagnostics workflow, and the AI-powered smart in-patient room automation system, we are using AI across the healthcare spectrum including prediction, prevention, diagnosis and personalised management," Reddy said.

The company said it continues to invest in the future expanding its digital footprint as well as its physical footprint with over 2,000 new beds being added over the next four years.

"Apollo is also upgrading its existing infrastructure and as of June 30, 2023, it has a network of 7,798 operating beds across its facilities, with 14 new hospitals contributing 2,380 operating beds. These new facilities have already achieved a utilization rate of 60 per cent and are well poised for further growth and profitability in the coming quarters," the company said in its BSE filing.