Apollo Hospitals- CFO expects Apollo HealthCo business to breakeven by Q4FY24
Q2 result: Apollo Hospitals Enterprise that reported performance for the quarter ending September, also announced its expansion plans. Apollo Hospitals Enterprise announced a 250-bed new hospital in Pune (expandable to 425 beds in 2 years) at an overall cost of ₹675 crores. The Hospital is expected to be commissioned by Ql FY25.
The commissioning capacity in a few quarters from now is positive as will start contributing to business, said analysts. Apollo is already undergoing expansion of around 2200 hospital beds. Chief Financial Officer Krishnan Akhileswaran expects 700-800 bed addition every year.
Also Read-Diwali 2023: What is ‘samvat’ and why does it hold significance for investors? Meanwhile, Apollo reported a 14% YoY rise in its net profit to ₹233 crore during the September quarter of the current financial year. The September quarter's profit was led by the increase in the number of patients due to seasonal flu infections. The rising surgeries and procedures was another reason for this.
The Self pay and Insurance grew by 14% in revenue over the year-ago quarter. The International patient's revenue witnessed 20% increase in Q2FY24. The new Hospitals are also contributing to this rise in net profit, The occupancy levels for new hospitals as Lucknow was at 70% during the quarter highlighted Akhileswaran.
The rising overall occupancy is positive for Apollo Hospitals. The ARPOB (average revenue per operating bed) grew by 14% to ` ₹57,391 in Q2FY24. The revenue from operations of the hospital Services increased by 12.7% to 2566 crore rupees Also Read- Hindalco Q2 results preview: Lower costs, rising volumes to compensate for weak Aluminium prices Overall, revenue from operations rose 14% to ₹4847 Crore .
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