Apollo Hospitals net profit declines 20 percent to Rs 213 crore in Q2

New Delhi: Apollo Hospitals on Thursday said its consolidated net profit declined 20 percent to Rs 213 crore in the second quarter ended September.

The healthcare major had reported a net profit of Rs 267 crore in the July-September period of previous fiscal.

Total income increased to Rs 4,274 crore in the second quarter of the current fiscal as against Rs 3,723 crore in the year-ago period, Apollo Hospitals said in a regulatory filing.

Shares of the company ended 1.8 percent down at Rs 4,282.25 apiece on the BSE.

Read also: Breast Cancer Awareness: Apollo Cancer Centre Launches “ArtCan” Mural-Artworks

Dr. Prathap C Reddy, Chairman, Apollo Hospitals Group said, “The first half of FY23 is a clear sign that the pandemic is now behind us. However, we continue to be vigilant with appropriate precautions in all our facilities. We have seen a return of patients to our facilities for treatment of chronic diseases, which bodes well for our fight against the tsunami of non-communicable diseases (NCDs). We have also seen a significant increase in the number of international patients coming to us, even though air services remain lower than Pre-Covid levels. The Governments’ thrust on Heal in India is inspirational, and I have no doubt that India will soon be the foremost global destination for high-quality healthcare.
We continue to strengthen our healthcare portfolio with collaborations and acquisitions not just in India but also in the African continent. We understand the importance of a holistic approach to health that blends the best of advanced modern medicine with our traditional Ayurveda and have taken the first step on this journey with the acquisition of a majority stake in Ayurveda hospital chain AyurVAID. This will add further value to our medical and wellness tourism offerings especially in the treatment of non-communicable diseases across medical specialties and for rehabilitation.”
“This is a special year for us as it leads into Apollo completing 40 years of a journey devoted to healing. It also marks the transformation of Apollo into an integrated healthcare provider offering hybrid delivery of care across its hospitals and the online Apollo 24/7 platform with a full bouquet of healthcare services ranging from virtual and telephony consultation, seamless delivery of medicines, diagnostic test booking and doorstep sample collection, digital health records and more,” he stated.
“All this is backed by our investments in the latest AI and medical technology that empower our doctors and healthcare staff to deliver world-class patient care. We look forward to the second half of FY23 with renewed confidence and a stronger will to deliver the best of healthcare to the people of India and the world,” Dr Reddy added.

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