Apollo Hospitals' net profit falls 35% to Rs 324 crore in June qtr

Healthcare chain Apollo Hospitals Enterprise on Thursday reported a 35.33 per cent decline in consolidated net profit at Rs 323.78 crore in the first quarter of FY23 amid higher expenses and marginal revenue growth.

The company had posted a consolidated net profit of Rs 500.68 crore in the same period last fiscal, Apollo Hospitals Enterprise Ltd said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 3,795.6 crore as against Rs 3,760.21 crore in the year-ago period, it added.

Healthcare services vertical clocked a revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year, while the clinics segment revenue was lower at Rs 293.01 crore as compared to Rs 309 crore in the year-ago quarter, the company said.

Pharmacy distribution business revenue was also lower at Rs 1,472.92 crore in the first quarter as compared to Rs 1,512 crore in the same period last fiscal, the filing said.

Total expenses during the quarter were higher at Rs 3,545.36 crore as compared to Rs Rs 3,475.58 crore in the same period last year. Cost of materials consumed increased to Rs 612.37 crore, from Rs 581.7 crore in first quarter of last fiscal, the healthcare chain said.