Shares of Apollo Hospitals Enterprise rose over 3 percent in trade on May 31 as investors cheered for the hospital major's robust earnings performance for the March quarter of FY24. The company delivered an all round performance, delivering growth on the three key parameters of revenue, profit and profitability.
At 09.18 am, shares of Apollo Hospitals were trading at Rs 5,897.60 on the NSE.
The company's net profit grew over 77 percent on year to Rs 258 crore in Q4FY24, up from Rs 146 crore clocked in the same quarter of the previous fiscal. With this, the Apollo's bottomline came at par with Moneycontrol's estimated net profit of Rs 257 crore.
It is also worth noting that Apollo's net profit in the year ago period was heavily dented by the high losses that it bore for scaling up its online business - Apollo HealthCo.
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However, this time around, reduced losses in Apollo HealthCo not only helped boost the company's bottomline but also aided its operational performance.
Apollo HealthCo turned EBITDA positive in Q4 FY24 as guided by the management earlier in the fiscal year. The arm reported an EBITDA of Rs 36 crore, as against a loss of Rs 72.10 crore in the year ago period. Cost optimisation and growth in operational revenue helped Apollo HealthCo achieve breakeven on an EBITDA level.
As a result, the company's EBITDA margin also expanded to 13 percent in the January-March period, as compared to 11.3 percent in the year-ago quarter.
Revenue for the company also rose 15 percent on year to Rs 4,944 crore as against Rs 4,302 crore clocked in the corresponding quarter a year ago. Analysts polled by Moneycontrol had anticipated the company's revenue to hover around Rs 4,927 crore.
Furthermore, the Apollo's hospital business reported an occupancy rate of 65 percent in Q4, up from 64 percent last year, while ARPOBs (Average Revenue Per Occupied Bed) also rose 12 percent on year to Rs 59,523.
Also Read | Apollo Hospitals Q4 net profit jumps 77% to Rs 258 crore, meets expectation
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