Apollo to start Ahmedabad operations in third-quarter

Apollo Hospitals International Ltd (formerly Akshaya Apollo Hospitals, Ahmedabad) will commence operations from the third quarter of the current fiscal.

Announcing the annual results of Apollo Hospital Enterprise for the financial year 2003-04, an Apollo group release said, besides catering to the health care needs of Gujarat, the venture was targetting patients from South and East African markets also.

It added that the Ahmedabad unit of Apollo Group was also in talks with the Gujarat government for launching a co-operative insurance scheme for over five lakh employees of Amul India.

Apollo Hospital Enterprise posted a 37 per cent rise in unconsolidated profit after tax at Rs 37 crore for the year ended on March 31, 2004, compared with Rs 27 crore previously. Turnover grew by 11 per cent to Rs 499 crore (Rs 448 crore).

Prathap C Reddy, chairman of the Apollo group, attributes the growth to the firm's focus on high value-added services and investment in growth areas.