Apollo Hospitals Q1 Results: Net profit drops 47% YoY to Rs 167 crore
Apollo Hospitals Enterprises on Friday reported a 47% year-on-year (YoY) decline in net profit to Rs 167 crore for Q1FY24. The net profit was pulled down by Apollo Healthco's digital health platform 24x7 that reported a loss of Rs 83 crore. Apollo said Healthco is on track for break even in Q4 FY24.
Revenue from operations rose 16% YoY to Rs. 4,418 crore in Q1FY23. FY24 EBITDA excluding 24/7 operating cost and ESOP charge stood at Rs.
713 crore, registering YoY growth of 13%. Segment-wise, healthcare services revenue grew to Rs 2,294 crore, rising 13 per cent YoY while Healthco that houses 24x7 and pharmacy distribution revenues grew to Rs 1,805.4 crore, up 22 per cent YoY. 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.
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