Apollo Hospitals Q4 results: Net profit up 50% to ₹146 Cr, Board declares 180% dividend

Apollo Hospitals Enterprise on Tuesday recorded a 50% growth in consolidated net profit at ₹146 crore during the quarter ended March 2023, as compared to a profit of ₹97 crore, in the corresponding quarter of last fiscal. 

The company reported a net income of ₹4318.50 Cr during Q4FY23 as compared to ₹3577.15 Cr in Q4FY22, representing a gain of 21% YoY.

The Board of Directors have “Recommended a final dividend of ₹9/-per Equity Share (180%) of the face value of ₹5/- per share to the shareholders of the Company for the FY2022-23. The dividend recommended by the Board of Directors of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company,” said Apollo Hospitals Enterprise in a stock exchange filing.

“The Board has fixed the record date as Saturday, 19th August 2023 for the purpose of determining the names of the shareholders who are entitled for the final dividend and also for the purpose of the Annual General Meeting. The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of tax at source, on and from September 9, 2023,” said Apollo Hospitals Enterprise in a stock exchange filing.

The shares of Apollo Hospitals Enterprise closed on the BSE at ₹4603.25 apiece down by 0.92% from the previous close of ₹4646.10. The stock touched a 52-week-high of ₹4,900.00 on (05/12/2022) and a 52-week-low of ₹3,528.20 on (07/06/2022). 

Commenting on the outlook of the stock post its earnings, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Despite an improved Q4FY23 results, Apollo hospitals stock price looks bearish with strong resistance of 4800 on the Daily charts. A daily close below support of 4535 could lead to target of 4230 in the near term."