 "Apollo Hospitals Q1 net declines 51% to Rs 35 cr on rising expenditure")
Healthcare major Apollo Hospitals Enterprise on Monday reported a 51.21 per cent dip in standalone net profit at Rs 35.21 crore, mainly on account of rise in expenditure for the first quarter ended June 30, 2017.
The company had reported a net profit of Rs 72.17 crore for the corresponding period of the previous financial year, Apollo Hospitals Enterprise said in a BSE filing.
However, standalone income from operations of the company rose to Rs 1,684.46 crore for the quarter under consideration as against Rs 1,465.43 crore for the same period year ago.
The company's board also took note of resignations of Habibullah Badsha, Raj Kumar Menon and Rafeeque Ahamed as independent directors with effect from today, Apollo Hospitals said.
The board has approved the appointment of BVR Mohan Reddy as an additional director with effect from August 14, 2017 to hold office as an independent director, it added.
Shares of Apollo Hospitals Enterprise were trading 1.51 per cent down at Rs 1,197.90 on BSE.