Moneycontrol
Nov 14, 2017 12:14 PM IST | Source: Moneycontrol.com

Apollo Hospitals hits 52-week low on poor Q2 numbers; Credit Suisse neutral on stock

Credit Suisse has maintained neutral rating on stock with target of Rs 1,075.

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Shares of Apollo Hospitals Enterprises touched 52-week low of Rs 981, slipping 1.5 percent during intraday trade on Tuesday on the back dismal Q2 (July-September) numbers.

The company has reported 22.92 percent declined in its standalone net profit at Rs 70.90 crore in the quarter ended September against net profit of Rs 91.99 crore in the same quarter last year.

The revenue of the company rose 112 percent at Rs 1,851.64 crore against Rs 1,634.10 crore.

Apollo Hospitals has been removed from the MSCI Global Standard Index.

Axis Capital has put buy rating on stock with a target of Rs 1410 per share. According to the firm, the company's Q2 numbers were steady and EBITDA of Rs 220 crore was ahead of their estimate of Rs 190 crore.

The company's hospital margin has affected due to regulatory hurdles, losses due to Navi Mumbai unit, it added.

Credit Suisse has maintained neutral rating on stock with target of Rs 1,075.

The Q2 is seasonally the strongest quarter and the existing hospitals EBITDA starts growing after five quarters of decline, it added.

The key for stock is sustainability of the performance, it believes.

At 10:35 hrs Apollo Hospitals Enterprises was quoting at Rs 987 down Rs 9.50, or 0.95 percent on the BSE.

Posted by Rakesh Patil
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