Apollo Hospitals Enterprise (AHEL) has reported a 32% growth in its net profit for the quarter ended June 30, 2019 to Rs 79.30 crore as compared to Rs 60.20 crore in the same quarter last fiscal. Revenue grew 17% to Rs 2,229.20 crore as compared to Rs 1,910.40 crore in the same quarter last fiscal.
As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding AHLL & managed beds), out of which 13 were new hospitals with 1,870 operating beds. The new hospitals are expected to see increase in volumes and utilisation going forward, said a press release here on Tuesday.
Prathap C Reddy, chairman, Apollo Hospitals, said, "We have made a strong start to the financial year building on the momentum gained last year to deliver steady growth in revenue and margins across all our verticals. We are hopeful that our efforts towards having a strong pan-India presence, and towards adopting new skills and cutting edge technology should help us in maintaining the momentum going forward as well."
Revenue has received a boost driven by positive trends at our mature hospitals, which reported revenue growth of 14%, and an improved performance from our new hospitals, which reported revenue growth of 20%. The overall healthcare services growth for the quarter was aided by growth in surgical and cath lab volumes at both the mature and the new hospitals. "We continue to focus on margin improvement with a rationalisation of prices and an optimisation of costs. Results of our efforts are visible with the healthcare services EBITDA growing by 25% YoY to Rs 231.50 crore. Overall EBITDA margins have improved to 12.3% this quarter as against 11.86% in Q1FY19," Reddy said.
He further said that Apollo Hospitals will continue to work towards a further improvement in the margins to 23% by the first half of FY21.